Best Practices: Creating An RFP For ESG Reporting And Data Management Software
20 Apr, 2023
Access this research
Access all ESG & Sustainability Reporting Software content with a strategic subscription or buy this single report
Need help or have a question about this report? Contact us for assistance
Executive Summary
Firms are under increased pressure to improve and report on their sustainability performance, whether this is to meet regulatory requirements or to cater to demands from shareholders, suppliers, customers and other stakeholders. The EU’s Corporate Sustainability Reporting Directive (CSRD) alone will require roughly 49,000 firms to disclose sustainability information as soon as 2024. Over 100 software vendors – ranging from small start-ups to major enterprise applications and platforms – have developed digital solutions to help corporates with this challenge. This report provides heads of ESG and sustainability – as well as other buyers of ESG reporting and data management software – with guidance on how to design a request for proposal (RFP), in order to navigate this crowded market and meet their firm’s specific needs, taking into account product functionality, services and customer support, as well as industry-specific experience.
There Is Growing Demand For ESG Reporting Software
Corporates Face A Wide Variety Of Challenges With ESG Reporting
Considerations When Selecting A Software Vendor
Evaluate Services And Partnerships
Ensure Key Functionality Is Embedded In The Software
Look For Vendors With Industry-Specific Functionality And Experience
Corporates Face A Wide Variety Of Challenges With ESG Reporting
Considerations When Selecting A Software Vendor
Evaluate Services And Partnerships
Ensure Key Functionality Is Embedded In The Software
Look For Vendors With Industry-Specific Functionality And Experience
Figure 1. ESG Information Architecture Components
Figure 2. Questions To Ask When Preparing An RFP
Figure 3. Examples Of Vendors’ Industry-Specific Experience
Figure 2. Questions To Ask When Preparing An RFP
Figure 3. Examples Of Vendors’ Industry-Specific Experience
The Clorox Company, Brembo, XBRL US, Swiss Life Asset Managers, Meta, ESG Book, Task Force on Climate-related Financial Disclosures (TCFD), Worldfavor, City of San Diego, Campbell Soup Company, Greenomy, Sage, EY, Novisto, CDP, Diligent Corporation, Position Green, Hospital Care, Santander, Workiva, Boston Properties, Manulife, Asana, AbbVie, Global Reporting Initiative (GRI), Swedbank, International Sustainability Standards Board (ISSB), Al Dahra, Deepki, CBRE, De Beers, Locus Technologies, APlanet, BuildESG, Endeavor Mining, Baker Hughes, Orsero Group, Tate & Lyle, Kinder Morgan, Biogen, DS Smith, Dow Jones, DevonWay, Wolters Kluwer, Amundi Asset Management, Lavazza, OneTRust, Agnico Eagle, Oakley Capital, SAP, Fiat Chrysler, Castolin Eutectic, Cority, Novata, VelocityEHS, ESG Playbook, Salzgitter, O3 Mining, State of Minnesota, Akamai, Virgin Atlantic, IsoMetrix, Primonial REIM, Naturgy, Salesforce, UL Solutions, Reporting 21, Norvestor, Securities and Exchange Board of India, MESA Group, Torex Gold Resources, Sphera, Target, Castik Capital, Air Canada, GRESB, City of Phoenix, IBM, Lazard, Enablon, Citi, NAVEX Global, IBM Global Real Estate, Sustainability Accounting Standards Board (SASB), WayCarbon, Clarity AI, Subaru, SUSE, Port Authority NY NJ, GPA Global, AECOM, Ford, Wendel, GPT Group, Persefoni, Measurabl, US Securities and Exchange Commission (SEC), Danske Bank, Eurazeo, FigBytes, Conservice ESG, Allergan, Aldo, IAMGOLD, Intelex, Benchmark ESG, PwC, ProcessMAP, Sanofi, NASDAQ, ERG
About the Authors
Jessica Pransky
Principal Analyst
Jessica is a Principal Analyst at Verdantix, specializing in providing insights to sustainability leaders and analysing ESG and sustainability reporting software. She advises …
View Profile
Kim Knickle
Research Director
Kim Knickle is a Research Director at Verdantix, bringing more than two decades of analyst experience to the evolving world of sustainability. Her current research spans ESG a…
View Profile