Benchmark on SaaS Platforms for the CSRD

The Corporate Sustainability Reporting Directive (CSRD), which came into effect on January 1, 2024, imposes enhanced transparency obligations on companies regarding their environmental, social, and governance (ESG) impacts. The goal is to provide investors with reliable and comparable information to guide their decisions towards sustainable investments. To comply with these new requirements, more and more companies are turning to ESG data management platforms. These SaaS solutions enable companies to handle double materiality, collect and analyze data, and produce comprehensive reports.

The benchmark conducted by Colombus Consulting and MEDEF analyzed the main SaaS solutions available in the market to meet CSRD requirements. Among these tools, several major trends emerge, confirming that SaaS vendors play a crucial role in helping companies achieve sustainable and compliant management.

The benchmark reveals that the market for SaaS platforms dedicated to ESG reporting is rapidly taking shape. The emergence of numerous solutions is a direct response to the complexity of the CSRD. The directive introduces strict requirements, such as double materiality, which forces companies to evaluate both their impact on the environment and society, as well as the risks that these issues pose to their business.

The study shows that, despite the youth of this market, the available solutions are up to the regulatory challenges. They integrate evolving features that enable companies to follow not only the current regulations but also future standards, such as sector-specific guidelines and the xbrl taxonomy. These developments confirm that SaaS vendors are playing a key role in supporting companies towards more sustainable management.

The study highlighted several key points in analyzing SaaS platforms for ESG reporting. Here are the main findings from this benchmark:

• Double Materiality Management: The ability to perform a double materiality analysis is a crucial criterion. Some tools automate this analysis by integrating sectoral or company-specific data, while others offer human support to guide companies through this complex evaluation.
• ESG Data Collection and Management: The collection and aggregation of data are central elements of ESG reporting platforms. The tools must be capable of integrating data from multiple sources and structuring them to meet CSRD requirements. Validation and consolidation of the data before their inclusion in the sustainability report are also key functionalities.
• Ease of Integration and Automation: Integration of ESG reporting platforms with companies' existing systems is essential for smooth data management. Many tools offer automated data collection processes, significantly reducing the time and effort required to produce compliant reports.
• Pricing and Implementation: Platforms generally adopt an annual license pricing model, with costs varying depending on the company’s size and the volume of data to be handled. In addition to this, implementation costs are often involved, especially for large companies needing customized solutions.
• Collaboration and Stakeholder Management: ESG reporting platforms must facilitate the involvement of all stakeholders in the data collection and validation process. Solutions that offer collaborative tools allow for smoother project management and greater transparency in report preparation.

The market for ESG reporting platforms is rapidly developing, and the benchmark conducted by Colombus Consulting and MEDEF shows that high-performing solutions, such as Greenscope, are already available to meet the challenges of the CSRD. The swift structuring of this sector is positive news for companies, as they can now rely on robust and scalable tools to comply with the new regulatory requirements.

Link towards full study here

Following the benchmark, Greenscope stood out as a particularly suitable solution to meet the requirements of the CSRD. Our platform offers comprehensive coverage of the various stages of compliance while providing simple and effective tools for users. Here are our platform key strengths:

• Complete CSRD Coverage: We handle the entire process, from double materiality analysis to the generation of sustainability reports.
• Expert Human Support: Our team provides hands-on expertise for critical tasks, including double materiality assessments and tailored ESG missions.
• Partner Ecosystem: We collaborate with a diverse network of partners to ensure every stage of your project is covered, from building a sustainable strategy to deploying an actionable plan.
• AI-Driven Efficiency: Greenscope integrates AI to streamline ESG data analysis, enhancing accuracy and speeding up the reporting process.
• Collaborative Platform: Our solution promotes seamless collaboration, enabling all stakeholders to easily contribute to data collection and validation.
• Transparent, Tailored Pricing: We offer competitive pricing based on project scope, organizational complexity, and advanced data visualization options.