December 13, 2022
PwC
and SAP started a new co-innovation strategy to make sustainability an integral
part of standard business operations. 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 strength of the existing alliance between PwC
and SAP, which has successfully delivered business transformation solutions to
clients in more than 80 countries.
The strategy includes co-innovated solutions, created with PwC’s deep ESG and
accounting expertise, aimed at enabling businesses to apply ESG metrics through
their operations that are trustworthy, auditable and verifiable. 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 organizations leverage the solutions they
need to fulfill compliance requirements and drive growth to support the
ever-increasing expectations of customers and investors. They also assist
customers in shaping the future of their net zero strategy and sustainability
reporting.
PwC and SAP’s strategy includes solutions encompassing an enterprise-wide ESG
strategy, ranging from trading optimization 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
Operationalizing sustainability to support the incorporation of ESG measures,
especially carbon issues, directly into business functions, such as trading,
capitalization and tax
Supply
chain risk management, monitoring and compliance extending support for ESG
measures to cover the impact of suppliers on organizational performance
Solutions like PwC Germany’s award-winning Climate Excellence tool, based on SAP
Business Technology Platform, have already demonstrated the strength of the
collaboration between the two organizations in bringing ESG innovation to
market.
PwC and SAP are dedicated to helping organizations respond to the reporting and
auditability requirements imposed by the European Financial Reporting Advisory
Group (EFRAG) and the International Sustainability Standards Board (ISSB). They
also support companies in complying with a related ruling proposed by the U.S.
Securities and Exchange Commission (SEC). Solutions provided by PwC and SAP
enable the real-time, data-driven environment customers require to operate and
grow the sustainable enterprise of the future.
Bob
Moritz, Global Chairman, 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.
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.”
Christian Klein, CEO and member of the Executive Board of SAP SE, said: “The key
to every organization’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. The resulting ESG transparency will help companies
reinvent their business models and deliver the sustainable outcomes the world
urgently needs.”