Workiva Strengthens its Business Reporting Platform by Integrating with CDP to Advance Customers’ ESG Programs
May 01 2023 - 9:00AM
Business Wire
Continuous Platform Innovation Transforms How
Customers Drive Data Consistency and Assurance for Global ESG
Reporting Requirements
Workiva Inc. (NYSE:WK), the world’s leading cloud platform for
assured integrated reporting, today announced that CDP, widely
regarded as the leading disclosure system for measuring
environmental impacts, has been incorporated into the Workiva
platform to advance customers’ ESG programs. This latest innovation
leverages Workiva’s ESG Program and ESG Explorer to streamline
customer responses to CDP questionnaires, empowering companies to
manage their sustainability data more efficiently and effectively,
and drive positive environmental impact and business outcomes.
According to CDP, more than 18,700 companies, representing half of
global market capitalization, disclosed environmental data through
its online response system in 2022, an increase of 38 percent over
the previous year.
"Having one single source of truth drives consistency,
transparency, and auditability, which ultimately reduces costs and
builds trust with stakeholders. As the technology company uniting
financial reporting, ESG, audit and controls, Workiva is uniquely
positioned to streamline the disclosure process while applying the
same rigor and investor-grade assurance to climate data that’s
expected of financial data,” said Paul Dickinson, Founder and
Chair, CDP and ESG advisor, Workiva. “This is a significant and
timely addition to Workiva’s ESG reporting solution, and I believe
it will be a game-changer—not only for sustainability
professionals, but for the finance, audit, and risk management
teams that are now responsible for corporate climate disclosures as
well.”
Responding to CDP questionnaires and other ESG-related
frameworks is often a time-consuming and complex undertaking
involving multiple teams across different departments. Workiva
simplifies this process through its centralized hub for reporting
collaboration and automated data collection, saving companies time
and resources while ensuring accuracy, consistency, and
assurance.
“Customers tell us that some of their biggest challenges involve
collecting data and aligning to global ESG frameworks and standards
with rapidly changing reporting requirements. The new CDP reporting
capability is an extension of our industry-leading ESG reporting
solution and leverages Workiva’s unrivaled, integrated reporting
platform that connects disparate data sources and supports our
customers’ unique reporting needs,” said Paul Volpe, Senior Vice
President of Growth and Head of ESG Solutions at Workiva. “There’s
no time to wait. ESG reporting is quickly becoming a board-level
mandate. Not only are organizations tasked with meeting their ESG
commitments and science-based targets, leaders are making critical
business decisions by evaluating both financial and ESG data
together. Workiva is committed to investing in continuous
innovation and working with partners like CDP to help more
companies around the world manage and scale their positive
environmental and social impact.”
Workiva’s new capability supplements a separate disclosure API
pilot led by CDP. A Gold Accredited Solution Provider, Workiva was
selected to pilot a new disclosure API that will enable customers
to automatically transfer data from the Workiva platform into CDP’s
online response system. For the 2023 disclosure cycle, the CDP API
pilot is restricted to climate data, but Workiva’s CDP innovation
also supports responses to the organization’s forests and water
security questionnaires. From 2024 onwards, CDP hopes to be able to
work with providers to make it available to responding cities,
states and regions and look forward to expanding its reach and
impact.
For more information, watch “Hot Topics for Sustainability,
Reporting and Disclosure in 2023,” a free webinar recording
featuring insights from leaders at CDP and Workiva.
About CDP
CDP is a global non-profit that enables companies to disclose
environmental information at the request of investors, customers
and other stakeholders. Founded in 2000 and working with more than
740 financial institutions with over $130 trillion in assets, CDP
pioneered using capital markets and corporate procurement to
motivate companies to disclose their environmental impacts, and to
reduce greenhouse gas emissions, safeguard water resources and
protect forests. CDP holds the largest environmental database in
the world, and CDP scores are widely used to drive investment and
procurement decisions towards a zero carbon, sustainable and
resilient economy.
About Workiva
Workiva Inc. (NYSE:WK) is on a mission to power transparent
reporting for a better world. We build and deliver the world’s
leading cloud platform for assured integrated reporting to meet
stakeholder demands for action, transparency, and disclosure of
financial and non-financial data. Workiva offers the only unified
SaaS platform that brings customers’ financial reporting,
Environmental, Social, and Governance (ESG), and Governance, Risk,
and Compliance (GRC) together in a controlled, secure, audit-ready
environment. Our platform simplifies the most complex reporting and
disclosure challenges by streamlining processes, connecting data
and teams, and ensuring consistency. Learn more at workiva.com.
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Media Inquiries: Rotha Brauntz Lauren Covello
press@workiva.com
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