Professional services firm EY and Wolters Kluwer’s sustainability, EHS and operational risk management software business Enablon announced today the launch of a new ESG management and reporting solution.

Built on the Enablon cloud software platform, and utilizing the EY team’s ESG knowledge, the solution aims to provide a centralized tool to enable organizations to manage, track and report ESG data and strategies, aligning with a variety of the most relevant standards and frameworks.

Veli Ivanova, EY Americas Climate Change and Sustainability Services Leader and Enablon Alliance Sponsor, said:

“Increased investor and regulatory focus on ESG performance and various ESG disclosures demands action. EY clients, across all sectors, are recognizing the need for reliable systems to effectively manage and report this data. With Enablon’s innovative cloud platform, EY teams can provide a broad solution complete with the latest industry frameworks and standards to assist clients through the ESG reporting process, help manage sustainability risk and provide relevant insights to internal and external stakeholders.”

The new solution covers three key areas, including enhanced disclosures content, climate risk, and integrated leading ESG practices. The solution contains updated indicators aligned to the latest frameworks, including SASB, TCFD, and United Nations (UN) Sustainable Development Goals (SDGs), and allows for defining and tracking client-specific corporate goals and key performance indicators (KPIs). The climate risk management module uses industry-standard analysis methodologies to assess, manage and report risk in alignment with the TCFD.

Additionally, the solution is equipped with traditional ESG management tools like integrated materiality assessment capabilities, issues tracking and stakeholder engagement, as well as improved user experience and enhanced reporting, and also provides advanced ESG management from a continuous improvement perspective, allowing clients to identify themes, understand relationships and interdependencies, and track progress against goals.

Noelle Harvey, Senior Director Product Management, Enablon, said:

“Enablon helps create a responsible, productive and safe world. We are committed to providing advanced technologies to help organizations align to investor ESG reporting demands, efficiently and transparently. Through our work with EY teams, clients have the capability to better manage today’s ESG management and reporting requirements and are poised to adapt to quickly evolving ESG requirements and frameworks.”