Streamlining ESG Reporting: The Power of Integration and Automation with Workiva

Streamlining ESG Reporting: The Power of Integration and Automation with Workiva

In today's rapidly changing business landscape, ESG reporting is essential, but traditional methods are hindering progress. Workiva's data management suite offers sophisticated tools, including Workiva Chains, that streamline ESG data collection and reporting.

Challenges of Traditional ESG Data Collection

  • Siloed Data: Sustainability reporting data often resides in disparate systems across an organization.
  • Manual Processes: Reliance on spreadsheets, email, and manual data input leads to errors and delays.
  • Lack of Standardization: Varying ESG frameworks hinder benchmarking and comparisons.

How Workiva Tackles ESG Challenges

  • Centralized Platform: Workiva's connected platform consolidates data from internal systems (ERP, HRIS, etc.) and external sources, offering a single source of truth.
  • Workiva Chains for Automated Collection: Chains automate data extraction and updates. You can schedule data pulls from various systems directly into Workiva.
  • Real-time Monitoring: Workiva's dashboards and live data updates enable proactive monitoring of ESG KPIs. Enhance your data analysis by using pre-built connectors for data visualization tools like Power BI and Tableau.
  • Reporting Frameworks: Templates and mapping capabilities align data with frameworks like GRI, SASB, TCFD, and more.
  • Collaboration and Control: Workiva's platform fosters collaboration, assigning clear roles, workflows, and audit trails for reliable data governance.

Specific Benefits of Workiva for ESG Reporting

  • Efficiency Gains: Eliminate manual data wrangling through Chains, saving valuable time.
  • Error Reduction: Automation minimizes the risk of errors from manual data entry.
  • Auditability: Chains and Workiva's robust controls enhance the reliability of your ESG reports.
  • Investor Confidence: High-quality, streamlined ESG reporting solidifies trust with investors and stakeholders.

Example: Using Workiva Chains for GHG Emissions Data

Imagine gathering greenhouse gas (GHG) emissions data from numerous facilities and energy bills. With Workiva, you can:

  1. Collect System Data: Get a head start in automating system data by utilizing pre-built connectors to authenticate and extract data from SAS and/or on premise systems.
  2. Set up Collection Spreadsheets: Create structured spreadsheets for data input at each facility, or use Workiva's ESG Program workflow to collect manual data.
  3. Automate Data Import: Automatically pull collected data from spreadsheets and systems into Workiva's connected reporting platform.
  4. Calculate and Consolidate: Wdata queries can apply formulas to calculate emissions (including applying site and fuel based global warming potential factors to calculate CO2e) and aggregate data across facilities.

Workiva's data management suite and Chains revolutionize ESG reporting. By embracing these tools, companies improve efficiency, accuracy, and transparency while driving meaningful progress on their sustainability goals.

Ready to unleash the power of Workiva for your ESG reporting? Contact Tower Turn to learn more about Workiva's solutions and how they can support your ESG journey.