Ideagen AI tool takes the pain out of ESG reporting
27 June 2024 - 11:29PM
Environmental, social and governance (ESG) reporting
headaches could be a thing of the past, after Ideagen, a leader in
regulatory and compliance software, announced a new strategic
partnership to create Ideagen Carbon Accounting set to be a
disruptor in the complex world of greenhouse gas emissions
measurement.
Using generative artificial intelligence (AI), the solution
dramatically streamlines the complex requirements of carbon
accounting, helping businesses to deliver on emissions reporting to
the highest regulatory standards.
Ideagen already has more than 16,000 customers globally, many of
whom already use their environmental, health and safety and
financial reporting solutions. Clients have shared that one of
their biggest challenges is the accuracy and intricacy of reporting
to the various global ESG standards. And it was this feedback that
inspired the collaboration with Emizio, an innovative envirotech
disruptor.
The platform is designed to provide a new way to streamline the
carbon accounting process for businesses, helping to reduce
workload, save time and alleviate stress, all while delivering
trusted results for reporting.
The platform guides users through the entire carbon accounting
process from start to finish. Contributors across a business can
simply upload corporate activity data – such as energy or
vehicle usage records – regardless of file type or format, and
Ideagen Carbon Accounting will automatically extract the relevant
data and undertake calculations to generate audit-ready emissions
results. This enables organizations to quickly achieve accurate
carbon accounts with ease and efficiency. The inbuilt AI
capabilities also help recognize and reconcile gaps in
data, a common issue in carbon reporting, helping businesses
report more accurately.
Emma Hayes, Chief Strategy Officer at Ideagen, said: "Carbon
accounting is complicated and meticulous. Meeting the regulations
for greenhouse gas emissions requires many datasets from many
different sources across a business. If you're a multi-site
organization that's even more challenging. It increases the risk of
misreporting and greenwashing accusations.
"It became clear that if our purpose is to provide clarity and
confidence to regulated industries, then we needed to find a
solution that helps businesses navigate the complexities of ESG
compliance. But it needed to be innovative, efficient and easy for
organizations to execute."
The technology is proven and has already been adopted by leading
multinational professional and financial services organizations.
Partnering with Ideagen provides a more extensive distribution
network and product development expertise.
Natasha Thakur, who has a financial sector background, supported
by climate strategy expert, Alex Whyte, will lead the rollout. She
said: "This partnership enables us to serve a wider customer base,
empowering businesses worldwide to reduce their carbon footprint
and achieve accurate and timely ESG reporting.
"Ideagen Carbon Accounting is responding to the current demand
for better carbon accounting solutions and setting a new benchmark
for environmental responsibility in the business sector,
emphasizing the critical role of technology in ensuring a
sustainable future.
"The announcement comes at a time when environmental concerns
dominate global discussions, making efficient and accurate carbon
accounting crucial for businesses committed to their ESG goals.
Through this new partnership, we can equip both new and existing
clients with the tools necessary to effectively meet their
objectives, providing trusted results for carbon emissions
reporting."
For more information, visit
www.ideagencarbonaccounting.com
and
www.ideagen.com
About Ideagen
Ideagen brings clarity and confidence to the safe hands and
trusted voices protecting our world.
By unifying deep regulatory expertise and innovation with
affordable, best-in-class software we provide trusted, meaningful
intelligence to regulated and high-compliance industries such as
life sciences, healthcare, banking and finance, aviation, defense,
manufacturing and construction.
From the shop floor to the flight deck, from the front line to
the boardroom, our 16,000 customers include more than 250 global
aviation organizations, nine of the top ten accounting firms, nine
of the top ten global aerospace and defense corporations, 15 of the
top 20 global pharmaceutical companies and 65% of the top 20 global
food & drink companies and includes blue chip brands such as
Heineken, British Airways, BAE, Aggreko, US Navy, Bank of New York
and Johnson Matthey.
Headquartered in Nottingham UK, with offices across the US,
Australia, India, Malaysia and UAE, our 1,700+ colleagues are
dedicated to supporting industries to turn risk into
resilience.
Rebecca Watson
Ideagen
+44 (0)7899 755 636
rebecca.watson@ideagen.com