Independent research firm recommends software provider for both enterprise-wide sustainability and evolving ESG initiatives
TORONTO, July 17, 2023 – Global enterprise environmental, health, and safety (EHS) software provider Cority has been recognized as a leader by independent research firm, Verdantix, in its first Green Quadrant report focused on ESG Reporting and Data Management Software released today.
“Corporates are facing an increasing amount of regulation and pressure from stakeholders. Reporting on ESG and sustainability metrics for environmental topics as well as social and governance issues is an absolute necessity,” states Jessica Pransky, principal analyst for ESG & sustainability at Verdantix. “Furthermore, ESG data management is more and more critical for corporates to make decisions on how they drive sustainability performances across their businesses and value chains. As a result, ESG reporting, and data management software has shifted from being “nice to have” to “must have” for many corporates.”
The objective, evidence-based assessment evaluated the 20 most prominent ESG reporting and data management software vendors. Cority was among 11 cited as demonstrating the most advanced all-around ESG reporting and data management software capabilities in support of customer needs. These include the ability to collect and manage large amounts of data and metrics covering ESG topics; engage and communicate performance with key stakeholders; ensure that the data is audit-ready; adapt to changing regulations; and enable reporting across a variety of regulated and mandated frameworks, all with the goal of improved decision-making.
With positive remarks for Cority’s ease of use and customer service, the report highlights two key areas relative to Cority’s strengths and differentiators:
Voluntary Reporting, Regulated and Mandated Frameworks. Cority earned a high ranking in this category due to its pre-defined configurations and reporting templates for multiple ESG frameworks – including TCFD, SFRD, CSRD, CDP, GRI, SASB and EU Taxonomy; its ability to process and incorporate millions of qualitative and quantitative data points (including financial data and information on climate-related risks); and to support the design and publication of interactive websites and reports with sustainability and financial data.
Engagement Tools. Cority was among the top three vendors in the engagement tools category. The report highlights the ESG solution’s ability to facilitate and support collaboration across locations and departments. It also highlighted Cority’s tools specifically designed for the financial sector, supporting a range of clients with over $700 billion USD of Assets Under Management
Noting the breadth of Cority’s capabilities, the report suggests Cority’s ESG and sustainability solutions for two types of customers: those seeking a comprehensive platform to support enterprise-wide sustainability initiatives, and firms that are at the beginning of their ESG journey, seeking a flexible solution that will evolve with them.
CorityOneTM, the company’s integrated EHS and sustainability SaaS-based platform, is designed specifically to address this range of customers by providing a scalable and seamless path for future growth. Consisting of a comprehensive suite of solutions for managing environmental, health, safety, sustainability, and quality programs, CorityOne aggregates data from across the organization providing a more holistic view of sustainability and ESG performance. By combining datasets in related areas such as employee health, risk and compliance, air emissions and waste, customers can realize improved efficiencies, data-driven decision-making, and more accurate reporting.
“CorityOne’s platform,” the report states, “expands upon its EHS and quality (EHSQ) capabilities to offer a well-rounded, user-friendly sustainability tool… Customers seeking to use one platform for their EHSQ and sustainability needs should include Cority on their shortlist.”
Cority was highlighted for its Sustainability Performance Essentials package designed specifically for organizations just starting out in their sustainability reporting journey and not yet ready for the comprehensive CorityOne platform and Sustainability Cloud offerings. The foundational solution includes built-in best practices, standards frameworks, and the ability to be deployed in under 12 weeks.
Verdantix also called out Cority’s investment in its sustainability and ESG software capabilities and support for both Corporations and Private Markets over the past two years with the acquisitions of Greenstone and Reporting21. This ensures that Cority’s clients deploy software and services that are tailored to their specific needs; from developing an ESG framework, to calculating GHG emissions, analyzing ESG performance, managing engagement and preparing for international reporting frameworks.
“We are honored to be recognized among such a distinguished field in this initial analysis of ESG reporting and data management,” said Ted Kail, chief product officer. “Our position as a leader reinforces Cority’s continued commitment to providing customers with the most relevant data management tools that align seamlessly with the evolving reporting frameworks. We are continually striving to enhance our support for teams embarking on their environmental, safety, and governance journeys with people-first solutions that are scalable and grow with them.”
Regulatory shifts, rising market demand for ESG reporting and data management software, and an increase in vendor solutions over the last three years prompted Verdantix’s evaluation in this arena. In fact, Verdantix says it expects the ESG reporting and data management software market to grow from $905 million in 2021 to more than $4.3 billion by 2027.
Each vendor’s position in the report was determined by its scores in two areas: capabilities, which measures the breadth and depth of the provider’s offerings across 15 capability areas, such as data management, configurability, organizational structure, and user interface; and secondly, momentum, which measures each provider on a variety of market momentum factors, such as brand perception, revenue size, partnerships, and customer base.
Cority adds this ESG-focused leader position to previous recognition as a leader in the last five consecutive Verdantix EHS Green Quadrant benchmark studies. The company was also named a leader in the 2022 Green Quadrant for Enterprise Carbon Management Software report, published by Verdantix.
To reserve a copy of the full Green Quadrant: ESG Reporting and Data Management Software Report, visit here.