PwC and SAP launch Innovation Strategy to help firms achieve ESG goals

PwC and SAP have announced a new co-innovation strategy to make sustainability an “integral part of standard business operations”. The pair said the strategy is directed at creating trusted solutions to address key environmental, social and corporate governance (ESG) business challenges. It covers carbon measuring, reporting and steering as well as supply chain decarbonization, climate risk and competitive analysis. The new ESG strategy builds on the existing alliance between PwC and SAP, which has delivered business transformation solutions to clients in more than 80 countries. The strategy includes co-innovated solutions, created with PwC’s ESG and accounting expertise, aimed at “enabling businesses to apply ESG metrics through their operations that are trustworthy, auditable and verifiable”. It added the solutions leverage the SAP Cloud for Sustainable Enterprises solution, along with the SAP Sustainability Control Tower solution and the SAP Product Footprint Management solution. Together, PwC and SAP help organisations leverage the solutions they need to fulfil compliance requirements and drive growth. The PwC and SAP strategy includes solutions encompassing an enterprise-wide ESG strategy, ranging from trading optimisation and tax credit recognition to third-party risk management and competitive analysis. Three top challenge areas for ESG, net zero and sustainability reporting will also be addressed: ● Reporting and disclosure helping to satisfy requirements to materially report and disclose investor-grade carbon measuring data to meet demands of investors, lenders, regulators, and customers. ● Operationalising sustainability supporting the incorporation of ESG measures, especially carbon issues, directly into business functions, such as trading, capitalisation and tax. ● Supply chain risk management, monitoring and compliance extending support for ESG measures to cover the impact of suppliers on organisational performance. Bob Moritz, global chairman at PwC, said: “ESG has become a business imperative and is central to PwC’s global strategy, The New Equation, which aims to help clients build trust with their stakeholders and deliver sustained outcomes. New ESG reporting and disclosure requirements are being established, and greater transparency is critical to building trust. “This belief is core to our new co-innovation strategy with SAP, expanding our collaboration to create a dedicated focus on ESG solution development. PwC has been working intensely to help companies deliver on the requirements needed to achieve their ESG goals.” He added: “Combining our expertise and reputation for trust and integrity with SAP’s technology platform will help bring broader capabilities and solutions to respond to organisations’ challenges in meeting their ESG and sustainability commitments.” Christian Klein, CEO and member of the executive board of SAP SE, said: “The key to every organisation’s ability to reach their sustainability goals and drive positive change is transparency. Our collaboration will combine the deep industry expertise and customer insights of PwC with our leading sustainability technology portfolio, and the resulting ESG transparency will help companies reinvent their business models and deliver the sustainable outcomes the world urgently needs.”

PwC and SAP launch Innovation Strategy to help firms achieve ESG goals

The PwC and SAP strategy includes solutions encompassing an enterprise-wide ESG strategy, ranging from trading optimisation and tax credit recognition to third-party risk management and competitive analysis

Read Next

Armstrong Watson acquires Gibbons Accountants

Crowe continues growth of Forensics team with new partner

TaxAssist Accountants unveils new group promotions

Crowe strengthens leadership with four new partners

Azets expands North East corporate finance team

Armstrong Watson acquires Gibbons Accountants

Crowe continues growth of Forensics team with new partner

TaxAssist Accountants unveils new group promotions

Crowe strengthens leadership with four new partners

Azets expands North East corporate finance team

Today’s news in brief – 2/5/2024

CEOs and CFOs need to manage AI risks and drive trust, ACCA says

PwC appoints new partner to corporate finance team

Corporate Tax: Why organisations should pay their dues

Armstrong Watson bolsters senior accountancy team in Yorkshire

Read Next

Armstrong Watson acquires Gibbons Accountants

Crowe continues growth of Forensics team with new partner

TaxAssist Accountants unveils new group promotions

Crowe strengthens leadership with four new partners

Azets expands North East corporate finance team

Related Articles

Today’s news in brief – 2/5/2024

CEOs and CFOs need to manage AI risks and drive trust, ACCA says

PwC appoints new partner to corporate finance team

Corporate Tax: Why organisations should pay their dues

Armstrong Watson bolsters senior accountancy team in Yorkshire