PwC and SAP have recently teamed up to help organizations achieve their environmental, social and governance (ESG) targets and commitments to net-zero carbon emissions.
SAP and PricewaterhouseCoopers (PwC) have been strategic partners for many years, working together to help organizations transform and grow. They offer a broad range of services and solutions that cover many different areas of business, from accounting and finance to human resources and supply chain management. Together, the leading global enterprise software and cloud solutions provider and world-renowned assurance, tax, and consulting services firm provide businesses with the tools and resources they need to stay ahead of the competition.
ESG is a broad category of issues that companies must consider in order to remain sustainable and attractive to stakeholders. PwC and SAP have formed an alliance to provide business transformation solutions to clients all over the world. The newly unveiled ESG strategy falls right in line with this ongoing partnership, and promises even more success in the future. ESG investing is becoming increasingly popular, as investors look beyond traditional financial metrics to assess a company’s long-term prospects. The latest strategy will help both companies tap into this growing market while also helping their clients achieve their sustainability goals.
Noting that transparency is essential for any organization’s ability to meet its sustainability objectives and create significant change, SAP Chief Executive Officer (CEO) and Executive Board Member Christian Klein shared in a statement:
“Our collaboration will combine the deep industry expertise and customer insights of PwC with our leading sustainability technology portfolio. The resulting ESG transparency will help companies reinvent their business models and deliver the sustainable outcomes the world urgently needs.”
Co-innovative technologies were developed with PwC’s extensive ESG and accounting knowledge to help enterprises implement ESG measures across their operations. The following are incorporated into the solutions:
- SAP Cloud for Sustainable Enterprises – This offering is meant to aid businesses in accomplishing their environmental targets, whether that be reaching net zero, recycling materials, encouraging a more diverse workforce, or meeting sustainability standards.
- SAP Sustainability Control Tower – To facilitate the creation of new solutions and the incorporation of user-generated material, SAP Sustainability Control Tower, which is built on the SAP Business Technological Platform (SAP BTP), features an open, extensible technological design. Supporting businesses in managing their sustainability initiatives, the solution also offers a full suite of features and capabilities.
- SAP Product Footprint Management – This solution supports data gathering and analytics to enable organizations in fulfilling end-to-end carbon and environmental monitoring programs.
Enabling the Sustainable, Intelligent Enterprise with SAP and PwC
The success of solutions such as PwC Germany’s Climate Excellence tool, which is built on the SAP BTP, demonstrates the effectiveness of the partnership between the SAP and PwC in driving ESG innovation in the industry. PwC’s dedication to assisting clients with their enterprise-wide digital transformations using SAP solutions has been recognized by its designation as a SAP Platinum Partner and as a perennial candidate for SAP’s Pinnacle Awards. Furthermore, it is also one of the many advisory companies that back RISE with SAP, a flagship cloud product that delivers Business Transformation as a Service (BTaaS) by means of a suite of SAP’s interconnected technologies.
According to PwC Global Chairman Bob Moritz, PwC’s worldwide strategy — The New Equation — is founded on ESG since it enables clients to gain the confidence of their stakeholders and provide long-term results. More openness is essential to gaining people’s trust, he said, which is why new ESG reporting and disclosure rules are being introduced. He further explained:
“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. Combining our expertise and reputation for trust and integrity with SAP’s technology platform will help bring broader capabilities and solutions to respond to organizations’ challenges in meeting their ESG and sustainability commitments.”
Trading optimization, tax credit recognition, third-party risk management, and competitive analysis are just a few of the many solutions that make up PwC and SAP’s enterprise-wide ESG approach. Additionally, the two companies are committed to assisting businesses in meeting the reporting and auditability standards set out by the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) . SAP and PwC also support customers in meeting the requirements of a related rule proposed by the United States Securities and Exchange Commission (SEC).
