Cority Propels Market Expansion Into ESG Software With Acquisition Of WeSustain
The past year has seen a flourishing number of financial deals in the corporate ESG software market, as vendors look to take advantage of the latest investor-driven demand for superior corporate ESG data management systems and auditable workflows. One notable recent announcement is Cority’s acquisition of WeSustain, a Germany-headquartered specialist provider of enterprise sustainability and ESG software. Before the acquisition, WeSustain had established itself as a GRI-certified software vendor with a decade-long track record in providing materiality analysis and ESG performance management solutions to the likes of Commerzbank, Daimler, Hannover Re, Hapag-Lloyd, McKesson, and ThyssenKrupp. In addition, the vendor also actively partners with more than 10 entities including IBM, Schlange & Co., SGS Group and Sustainalize (an ERM Group company).
As a Canadian-based enterprise EHS software provider, the CorityOne platform will benefit from the WeSustain presence across both the ESG software segment as well as within European markets. According to our most recent global EHS survey of 301 executives, nearly two-thirds (60%) plan to adopt software for ESG reporting and sustainability program management in 2021. Among the 88 interviewees from European geographies, 18% cited plans to increase their spending on sustainability data and program management with the majority revealing double-digit percentage increases in spend. Cority’s timely acquisition combines its strengths in environmental compliance management – such as across permits and emissions calculation management – with enabling stronger facility-level and supplier-level ESG data visibility.
The move towards consolidated enterprise ESG information management platform architecture will continue to grow as firms seek to ensure holistic, firm-wide visibility and accountability for ESG programmatic efforts. Recently, Verdantix benchmarked more than 40 ESG and sustainability software applications and identified superior data access and high fidelity data as driving innovations across four categories: 1) real-time risk analytics, 2) operational ESG programme management, 3) product stewardship, and 4) disclosures and reporting management.
To learn more about the evolving ESG software marketplace, join our upcoming webinar ESG & Sustainability Software: 2021 Benchmark & Investment Recommendations.