Workiva Inc. (NYSE: WK), a leader in integrated reporting solutions, has announced the launch of Workiva Carbon, a new addition to its ESG and Sustainability Platform. This expansion is designed to assist organisations in navigating global climate regulations and enhancing their sustainability practices.
The introduction of Workiva Carbon comes as businesses face increasing demands for transparency and compliance with various climate-related regulations, including the Corporate Sustainability Reporting Directive (CSRD) in Europe, the SEC’s climate disclosure rules in the US, and California’s Climate Corporate Data Accountability Act (SB 253) and Climate-Related Financial Risk Act (SB 261). The new tool aims to simplify the management of net-zero targets and support companies in meeting international guidelines and stakeholder expectations.
Julie Iskow, President and Chief Executive Officer of Workiva, stated: “The launch of Workiva Carbon marks a significant enhancement to our ESG platform, enabling businesses to advance their sustainability goals. This new offering streamlines the tracking of greenhouse gas (GHG) emissions, supports the setting of science-based targets, and facilitates compliance with evolving regulatory and investor demands. Integrating these carbon management capabilities underscores our commitment to providing a comprehensive solution for financial reporting, ESG, and governance, risk, and compliance (GRC).”
Workiva Carbon allows companies to:
- Measure: Collect real-time data from ERP platforms, accounting systems, and utility providers to track GHG emissions across various facilities. The tool uses thousands of validated emissions factors from over 240 countries to automatically calculate emissions across scope 1, 2, and 3.
- Manage: Develop supplier engagement surveys to gather critical data, set science-based targets, and create reduction pathways. The platform also enables the assessment of ESG risks and the implementation of supply chain decarbonisation strategies.
- Collaborate: Share and link trusted data across multiple business functions—such as sustainability, finance, and risk management—while reducing risks associated with manual data handling and disparate spreadsheets.
- Report: Align emissions data with voluntary and mandated reporting frameworks, ensuring consistent disclosures for regulators, investors, and other stakeholders. The platform provides full data lineage, history, and attached evidence.
The new tool leverages technology from Workiva’s recent acquisition of Sustain.Life, a company renowned for its expertise in carbon accounting and emissions reporting. The integration of Sustain.Life’s technology with Workiva’s platform is expected to enhance the overall impact and accelerate efforts towards transparent reporting and sustainable practices.
For further details on Workiva Carbon and its capabilities, visit Workiva’s website.