With organisation increasingly prioritising ESG initiatives to help contribute to a more sustainable, equitable, and ethical world, build customer and stakeholder trust, and deliver successful business outcomes, ServiceNow, the leading digital workflow company, has announced a new, integrated ESG solution that helps companies activate ESG strategies, programmes, and initiatives.
ServiceNow’s ESG solution combines the power of the Now Platform, new and existing products, and ServiceNow’s partner ecosystem to help organisations plan, manage, govern, and report on their ESG programs and initiatives to drive greater environmental, social, and business impact.
According to recent studies, 88% of investors agree that companies which prioritise ESG initiatives represent better opportunities for long-term returns than companies that do not, and global consumers are nearly five times more likely to trust, buy, champion, and protect companies with a strong ESG purpose.
Today’s ESG efforts are often ad hoc, siloed, and manual. The technology products currently available support discrete, disconnected ESG efforts, compounding the problem. At the same time, global ESG regulations continue to rapidly evolve: more than 170 ESG proposed regulatory measures have emerged since 2018, and 82% of investors believe companies are not prepared to comply with ESG reporting regulations.
Companies must be able to connect their disparate ESG products and operational systems and support new and existing proposed regulatory requirements to scale their ESG efforts, meet their ESG goals, and support increasing stakeholder expectations for greater levels of transparency and disclosure. ServiceNow’s ESG solution, leveraging the single data model and single architecture of the Now Platform, helps companies accomplish these objectives.
“ESG is a top issue for the C-suite today. Leaders need better ways to plan, manage, govern, and report on their companies’ investments toward a more sustainable, equitable, and ethical world,” said Gina Mastantuono, ServiceNow Chief Financial Officer.
“With the power of the Now Platform, ServiceNow is well-suited as the strategic ESG platform partner for business, ultimately helping leaders gain operational control over their growing number of ESG initiatives to drive positive, lasting change globally.”
Kim Knickle, Research Director at Verdantix, added: “In order for ESG initiatives to be effective, companies must have a complete view of their ESG efforts and performance to know how they are tracking towards their goals. We expect ServiceNow’s new ESG solution will leverage the company’s existing platform to better enable this visibility.”
With its latest integrated ESG solution, ServiceNow is taking a holistic approach to help organisations drive impact and build greater customer, investor, and employee trust. Organisations can convert ESG goals into meaningful impact and create long-term value by innovating processes and delivering sustainable outcomes.
Key components of ServiceNow’s integrated solution include:
ServiceNow ESG Management and Reporting enables companies to document material topics, establish goals and KPIs, track performance, collect and validate audit-ready data, and create disclosures that align with major ESG reporting frameworks.
ServiceNow Project and Portfolio Management helps build and maintain a company’s ESG roadmap, including strategy, planning, and budgeting tools plus ongoing tracking of costs, resources, and results. Companies gain visibility into their ESG investments and improve the scale and impact of their ESG efforts.
ServiceNow Integrated Risk Management provides core governance capabilities plus advanced risk assessments, continuous monitoring, AI, audits, privacy, automation, and more. It integrates ESG considerations and data into effective enterprise-wide risk and compliance management with a real-time view of ESG compliance and risk as well as rich analytics.
These products work seamlessly with ServiceNow’s low-code tools and solutions such as Business Continuity Management, Vendor Risk Management, Security Operations, Hardware Asset Management, and HR Service Delivery to generate even greater enterprise-wide ESG value and impact.
ServiceNow’s ecosystem of partners, developers, customers, and other third parties will serve as a force multiplier for the ESG solution. The company announced an expanded alliance with KPMG, where KPMG will serve as the lead launch partner for ServiceNow’s ESG solution. Both companies will work closely together to activate ESG across the enterprise for their joint customers, while also building new ESG workflows on the Now Platform to further extend the solution’s capabilities.
ESG Management and Reporting will be generally available on November 18.
