target audience: TECH BUYER Publication date: Mar 2024 - Document type: IDC Innovators - Doc Document number: # EUR251866423
IDC Innovators: European ESG Data Management Platforms
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Abstract
IDC Innovators are emerging vendors with annual revenue of less than $100 million that have demonstrated either a groundbreaking business model or an innovative new technology — or both. This IDC Innovators study highlights three technology providers: World Wide Generation, Plan A, and SustainLab. Businesses face organizational and technology challenges during the process of ESG data consolidation and management, such as undefined processes for non-financial reporting, significant gaps in terms of abilities to report on all ESG KPIs as required by sustainability frameworks and regulations, and lack of automation for ESG data management. The profiled startups introduced their ESG data management solutions in a timely manner well ahead of the mandatory CSRD regulation in Europe, while capitalizing on the demand of early adopters of non-financial reporting in Europe and globally.
"The year 2024 is a milestone in European ESG/sustainability reporting, as large organizations are obliged to start reporting according to CSRD requirements for the fiscal year, with the reports to be published in 2025. European organizations are in different, often heterogeneous, stages of readiness for the mandatory ESG reporting, and they will require significant support in the form of ESG data management platforms, consulting and technology services, and the guidance on how to use the ESG data sets to generate the insights for advancing sustainable business transformation." — Program Manager Zuzana Kovacova, IDC EMEA Sustainable Strategies and Technologies