EcoOnline Launches Financial-Grade Sustainability Reporting Software

LONDON, March 5, 2024 /PRNewswire/ -- EcoOnline, a leading global SaaS technology company, dedicated to providing transformative software that protects both people and the planet, launches its new Sustainability Reporting solution today. This software enables organisations to easily and accurately calculate their greenhouse gas emissions, understand their climate impact, and comply with upcoming ESG and Sustainability legislation.

"As the only truly integrated SaaS solution in this market, we are in a unique position to revolutionise how we help businesses track their non-financial data." says Axel Elvik, SVP Product at EcoOnline. "The launch of the new Sustainability Reporting solution – and especially the combining of EcoOnline and Ecometrica – has resulted in a comprehensive and connected solution that sits alongside our best-in-class EHS and Chemical solutions, enabling our customers to have a more integrated and interconnected experience across all of their reporting."

In the past decade, there has been a profound increase in global ESG and Sustainability legislations, with more on the horizon. 2024 is going to be a pivotal year with the rollout of the all-encompassing EU-CSRD (European Union Corporate Sustainability Reporting Directive), as well as legislation in California and New York and the much-anticipated US-SEC climate legislation (Securities and Exchange Commission). In addition, a range of standards are being launched to support the legislation, including ISSB's (International Sustainability Standards Board) S1 and S2 and the European Sustainability Reporting Standards (ESRS) which underpins the EU-CSRD.

This complex landscape of legislation and standards is where companies new to sustainability reporting often struggle. EcoOnline's Sustainability Reporting software has been developed by experts who were involved in developing the original standards and know exactly what companies need to report on to comply. EcoOnline has also developed a Sustainability Navigator, which guides companies through which legislation they need to adhere to.

Powered by a sophisticated data engine, EcoOnline's Sustainability Reporting solution provides robust, transparent, audit-ready greenhouse gas emission calculations. Automatically selecting the appropriate emission factors from a database of over 130,000, it applies calculations and conversions instantly, reducing errors and saving time. Expert Sustainability Analysts are on hand to guide customers through set up, data collection, audit and reporting. The software is independently audited by a third-party provider to give peace of mind against increasing repercussions of non-compliance.

"Transparency is key to building trust and driving change. It's our responsibility to ensure transparency and this solution allows us to communicate that clearly. Knowing the system is third-party verified makes a difference, it gives us and our stakeholder confidence in the data." Greg Ritt, Group Head of Sustainability at Stagecoach.

According to independent researcher, Verdantix, ESG and sustainability is set to be the fastest-growing sub-segment in 2024 as firms face new-found pressure to disclose accurate, auditable, and transparent emissions data to stakeholders, investors and consumers, to demonstrate their sustainability credentials, as well as comply with legislation.

"Our belief is that the world is going to see ESG as a material risk for companies and we are perfectly positioned to help them combat that risk" states Tom Goodmanson, CEO, EcoOnline.

Coinciding with the launch, a webinar featuring Verdantix's CEO David Metcalfe, EcoOnline's Chief Scientific Officer, Dr Richard Tipper MBE, and Vanessa Boudreau-Sannier, VP Global Studies, took place on 4th March and is available to watch on-demand here.

EcoOnline's new Sustainability Reporting solution is now available to all businesses searching to stay ahead of legislative compliance and build resilience for the future.

EcoOnline provides transformative software to protect both people and the planet. EcoOnline offers a comprehensive and configurable suite of software solutions, with expertise in Chemical Safety, Sustainability Reporting, and all aspects of Environmental, Health, and Safety (EHS) including Learning and Training. 

With over 25 years of experience in 90 industries, EcoOnline is trusted by more than 600,000 people and 10,000 brands worldwide.    

To create a resilient future for your organisation, visit www.ecoonline.com 

Jess Thomas Harrison at jess.thomas.harrison@ecoonline.com