In March, the U.S. Securities and Exchange Commission (SEC) released reporting requirements for large, publicly listed companies in the U.S. Earlier this month, the European Financial Reporting Advisory Group (EFRAG) announced even broader disclosure requirements that will apply to roughly 50,000 companies with operations in the EU. The SEC and EFRAG regulations are currently in the public comment period, and final versions will likely differ from the proposed requirements. But different does not mean less stringent.
Companies that do business in the EU or the U.S. must have the ability to track and report how their operations impact the environment, as well as how climate-related risks can potentially affect their operations. They need solutions and tools for sustainability reporting, and they need them now, as some companies will need to demonstrate compliance in FY 2023. And no industry is exempt.
Strengthen Your Reporting Capabilities with Sphera’s Corporate Sustainability Software
Given the tight timeframe for compliance, companies need to identify the right ESG reporting solution as quickly as possible.
SpheraCloud Corporate Sustainability software is an award-winning solution for corporate ESG reporting, and many companies have already chosen Sphera’s solution for its robust monitoring and reporting capabilities. Our Corporate Sustainability software:
- Collects and aggregates the greenhouse gas (GHG) emissions data businesses need for defensible reporting.
- Automatically calculates the company’s carbon footprint, reconciling different calculation methods and update cycles.
- Creates transparent audit trails for insights that enable better decision-making and stronger reporting.
- Offers real-time analytics and personalized dashboards that help companies satisfy internal and external reporting responsibilities.
Partnering with Sphera for Stronger ESG Reporting
It’s now clear that many companies around the world need to acquire tools for compliant ESG reporting. Some businesses have already taken that step by choosing Sphera’s Corporate Sustainability software.
Private equity firms are among the strongest proponents of GHG reporting. To model the action that they hope to see in the private sector, some are establishing strong ESG reporting programs of their own.
Blackstone is one such company. This leading global investment firm introduced its Carbon Emissions Reduction Program in September 2020 with the goal of reducing carbon emissions by 15% across all new investments where it controls energy usage.
In presenting its integrated approach to ESG in 2021, Blackstone stated:
“While ESG is a vast and growing field, we have chosen to prioritize decarbonization, diversity and good governance. We aim to lead by example and apply our insights to drive change across our portfolio.”
In early 2022, Blackstone included Sphera’s Corporate Sustainability Software in the platform of resources, tools and companies available to its portfolio companies for support in achieving their carbon reduction goals.
James Mandel, Managing Director, Sustainability, at Blackstone, explained why:
“We believe Sphera’s deep technical rigor on GHG inventories will be tremendously valuable in our ESG risk mitigation efforts, and are thrilled to integrate its software suite, consulting services and data into the platform of resources available to our portfolio companies.”
Recognized by Barron’s as one of the 100 most sustainable U.S. companies in 2019, Aptar worked with Sphera to validate a risks and opportunities assessment according to the methodology of the Task Force on Climate-Related Financial Disclosures (TCFD). Sphera also helped Aptar incorporate its TCFD assessment results into the company’s climate change response for 2020. Read more.
A longtime leader in the automotive industry, Mercedes-Benz takes sustainability seriously, especially where it concerns its environmental impact. It announced its intent to lead the way toward “emission-free mobility” with a completely carbon-neutral new car fleet by 2039. Mercedes-Benz also stated its aim of achieving more than 50% of passenger car unit sales with plug-in hybrids or all-electric vehicles by 2030. Read more.
Compelled by the 2015 Paris Agreement, Indian multinational Mahindra & Mahindra set a robust Science Based Target (SBT) as a way to reduce emissions and combat climate-related risk. Read more