Green Quadrant: ESG Reporting And Data Management Software
17 Jul, 2023
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Executive Summary
This report provides a detailed, fact-based comparison of the 20 most prominent ESG reporting and data management software vendors. Based on the proprietary Verdantix Green Quadrant methodology, the analysis encompasses two-hour live briefings, desktop research and vendor responses to a 115-point questionnaire covering 15 capability and 11 market momentum categories. Although ESG reporting and data management software has existed for over 15 years, Verdantix analysis finds that the level of customer demand and the number of vendor solutions have both grown substantially over the last three years. This is largely due to increased pressure from internal and external stakeholders, resulting in new use cases and functionality requirements. Among the software vendors featured in this Green Quadrant, 11 firms – Benchmark Gensuite, Cority, Diligent, IBM, Intelex, Nasdaq, Sphera, UL Solutions, VelocityEHS, Wolters Kluwer and Workiva – demonstrated the most advanced all-round ESG reporting and data management software capabilities.
The state of the ESG reporting and data management market
ESG reporting and data management is its own distinct software category
An evolving regulatory landscape is driving a competitive market
Green Quadrant for ESG reporting and data management software 2023
Green Quadrant methodology
Evaluated firms and selection criteria
Evaluation criteria
APLANET delivers holistic reporting solutions for mid-market buyers
Benchmark Gensuite offers a comprehensive and collaborative sustainability platform
Clarity AI delivers an innovative solution well-suited for financial services firms
Cority expands capabilities and market reach with acquisitions of sustainability-based vendors
Diligent offers sustainability data management and reporting capabilities, building on its GRC heritage
FigBytes offers a revitalized and revamped sustainability platform
IBM’s deep analytical expertise provides a sustainability platform to drive business decisions
Intelex offers unique functionality to manage ESG risk and performance
Nasdaq acquires Metrio to expand upon existing sustainability management and ESG reporting capabilities
NAVEX provides ESG reporting solutions for a variety of sectors, building off its GRC platform
Novisto delivers an intuitive and user-friendly data management and reporting platform
OneTrust incorporates ESG and sustainability into its Trust Intelligence platform
Position Green offers a comprehensive sustainability platform well suited for the European market
Quentic delivers a configurable sustainability solution, drawing on its EHSQ background
Sphera’s acquisitions come together in a flexible, cross-functional reporting platform
UL Solutions delivers a well-rounded and reliable sustainability software platform
VelocityEHS delivers strong tools for ESG-related data management, building off EHS capabilities
WayCarbon incorporates decarbonization activities into its sustainability platform
Wolters Kluwer’s new corporate performance and ESG division drives strong momentum
Workiva offers strong integrated reporting functionality, drawing on its financial reporting and GRC background
ESG reporting and data management is its own distinct software category
An evolving regulatory landscape is driving a competitive market
Green Quadrant for ESG reporting and data management software 2023
Green Quadrant methodology
Evaluated firms and selection criteria
Evaluation criteria
APLANET delivers holistic reporting solutions for mid-market buyers
Benchmark Gensuite offers a comprehensive and collaborative sustainability platform
Clarity AI delivers an innovative solution well-suited for financial services firms
Cority expands capabilities and market reach with acquisitions of sustainability-based vendors
Diligent offers sustainability data management and reporting capabilities, building on its GRC heritage
FigBytes offers a revitalized and revamped sustainability platform
IBM’s deep analytical expertise provides a sustainability platform to drive business decisions
Intelex offers unique functionality to manage ESG risk and performance
Nasdaq acquires Metrio to expand upon existing sustainability management and ESG reporting capabilities
NAVEX provides ESG reporting solutions for a variety of sectors, building off its GRC platform
Novisto delivers an intuitive and user-friendly data management and reporting platform
OneTrust incorporates ESG and sustainability into its Trust Intelligence platform
Position Green offers a comprehensive sustainability platform well suited for the European market
Quentic delivers a configurable sustainability solution, drawing on its EHSQ background
Sphera’s acquisitions come together in a flexible, cross-functional reporting platform
UL Solutions delivers a well-rounded and reliable sustainability software platform
VelocityEHS delivers strong tools for ESG-related data management, building off EHS capabilities
WayCarbon incorporates decarbonization activities into its sustainability platform
Wolters Kluwer’s new corporate performance and ESG division drives strong momentum
Workiva offers strong integrated reporting functionality, drawing on its financial reporting and GRC background
Figure 1. Business functions responsible for implementing ESG strategies
Figure 2. ESG reporting and data management software transactions June 2022 – May 2023
Figure 3. Capabilities criteria for ESG reporting and data management software
Figure 4. Momentum criteria for ESG reporting and data management software
Figure 5. Vendor category scores - capabilites
Figure 6. Vendor category scores - momentum
Figure 7. Green Quadrant for ESG reporting and data management software 2023
Figure 2. ESG reporting and data management software transactions June 2022 – May 2023
Figure 3. Capabilities criteria for ESG reporting and data management software
Figure 4. Momentum criteria for ESG reporting and data management software
Figure 5. Vendor category scores - capabilites
Figure 6. Vendor category scores - momentum
Figure 7. Green Quadrant for ESG reporting and data management software 2023
Commerz Real, Quentic, Cherry Ventures, Meridiam, CSRHub, Atlas Metrics, Duracell, H.B. Fuller, Telefónica, OneReport, Armstrong World Industries, Proof of Impact, Accuvio, SoftBank Vision Fund 2, Meta, ESG Book, Task Force on Climate-related Financial Disclosures (TCFD), Oxy, Worldfavor, Campbell Soup Company, Global Reserve Group, Voith GmbH & Co. KGaA, Porsche Immobilien, Novisto, BlackRock, Hitachi Ventures, PPG, Dussmann Stiftung, CDP, Microsoft, Adobe, IHS Markit, Grove Ventures, Position Green, GIST Impact, Makersite, Santander, Engro Corporation, Workiva, AMCS, BTG Pactual, Asana, Enbridge Gas, Vista Equity Partners, IPL Plastics, ParsePort, Bloomberg, Amazon Web Services, Global Reporting Initiative (GRI), Rakuten Capital, S&P Global, Babcock, Franklin Templeton Insight Partners, Ford Motor Company, Allianz X, White Star Capital, Toyota Tsusho, DHL, Tenneco, Taskforce on Nature-related Financial Disclosures (TNFD), APlanet, Nordex Energy SE & Co. KG, GSK (formerly GlaxoSmithKline), Genstar Capital, Klinkby Enge, EnerSys, Baker Hughes, Barnes Group, Fortive Corporation, SoftBank, FactSet, MTG, Crédito Agrícola, DS Smith, Wolters Kluwer, Metrio, Industrial Scientific, Qlik, TCV, Aquicore, OneTRust, Slack, Manitou Group, Horizon, F19 Digital Reporting, Guardian Capital, Emerson Electric, CVC Growth Partners, Castolin Eutectic, Cority, Norfolk Southern, Continue AI, Novata, TeamMate, NAVEX, VelocityEHS, Air Liquide, Baxter, Maple Capital, Portman Travel Group, OneSumX, Grupo Globo, Partners Group, Celsia, Downer Group, Infogrid, Akamai, MasterCard, Diligent, Mondelēz, CCH Tagetik, ESG Data Convergence Initiative (EDCI), LSEG (London Stock Exchange Group), Inovia Capital, EDP, Datamaran, MRV, Corning, UL Solutions, Blackstone, Reporting 21, Norvestor, firesys, SGL Carbon SE, Parker Hannifin, General Motors, Sphera, Cinven, Thoma Bravo, Nestlé, Sway Ventures, SEB Private Equity, Moody's, Target, Coatue, Castik Capital, GRESB, Nike, IBM, Moderna, The Singularity Group, Rahn+Bodmer Co., Hamilton Lane, Enablon, Melbourne Water, Bank of Montreal, Shell, Amazon, Dexco, Intertek, Sustainability Accounting Standards Board (SASB), Scatec, WayCarbon, NorthWestern Energy, Clarity AI, Tableau, Hilton, Archer Integrated Risk Management, GPA Global, HG Capital, The Hershey Company, AECOM, The Container Store, Flowserve, Walmart, Pfizer, Celestica, GPT Group, Measurabl, Manaos, Benchmark Gensuite, Quantum Energy Partners, Quantum Innovation Funds, Delta, US Securities and Exchange Commission (SEC), Danske Bank, VitalMetrics, MSCI, FigBytes, CSRware, Watershed, Dominion, Getinge, BC Partners, Energy Impact Partners, Puro.earth, UN, Amundi, Intelex, UBS Group, Greenstone, Toyota, Cognizant, Sanofi, b2venture, WeSustain, Sonae SGPS S.A., BNP Paribas Fortis, Elera (formerly Brookfield), NASDAQ, DFIN, DWF
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 …
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Jessie Wilson
Industry Analyst
Jessie is an Industry Analyst at Verdantix, with a research agenda spanning ESG reporting, the circular economy and supply chain sustainability. Jessie has a BSc in Geography …
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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…
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