Global ESG Reporting Market Size, Share, Growth Opportunities and Competitive Research Report 2027

Environmental, social, and governance (ESG) data measures a company’s non-financial performance and sustainability practices. 

The three major pillars of ESG includes:

  • Environmental Data such as the amount of greenhouse gases emitted by a company into the environment, energy consumption data, water consumption data, waste reduction data, carbon footprint reduction data.
  • Social Data such as fair pay and living wages data, compliance with the labor laws, workplace health and safety, equal employment opportunity.
  • Governance Data such as corporate governance, compliance, ethical business practices, accounting transparency and integrity. 

ESG metrics can be classified into quantitative and qualitative. Quantitative metrics include numerical data which can be directly measured and compared such as energy consumption, water consumption, greenhouse gas emissions, energy consumption, while qualitative metrics include non-numerical data which are harder to measure and compare such as the company's labor practices, commitment to diversity, equity and inclusion (DEI)and others. This data is used to generate reports which demonstrate a company's ability to implement ESG initiatives successfully.

An Increasing Demand from Investors and Companies Triggers the Growth of the Global ESG Reporting Market

ESG metrics are globally being used by investors to examine businesses they plan to acquire or invest in. ESG software tracks ESG initiatives and investors use ESG reports to screen investments, align investments, and avoid companies with the risk of environmental damage, corruption, and social missteps. ESG reporting is widely being used by companies to report their efforts and progress on climate change, corporate social responsibility (CSR) initiatives, regulatory compliance, goal tracking and governance and sustainability.

“Nowadays, investors while examining companies look for ESG disclosures to steer their investment decision-making. Investors perceive that companies which perform well on ESG metrics are relatively less risky, better positioned for long-term market growth, and better equipped for uncertainty.”-Marketing Director, ESG Reporting Software Provider, United States

Growing Application of Artificial Intelligence (AI) provides an Exclusive Transformative Opportunities for Companies in their Sustainability Journey

The introduction of Artificial Intelligence is transforming the whole ESG landscape. It is rapidly being used to collect and examine large chunks  of ESG data, automate tasks, recognize patterns, and make predictions. AI is being used to assess a company’s exposure to ESG risks, such as climate change, labor practices, and corporate governance. It can also being used to automate compliance tasks, such as reviewing regulatory filings & identifying compliance gaps. Citing the potential growth prospects of the global ESG reporting market, leading players operating in the global market have introduced a number of AI-related products. 

Competitive Landscape Analysis: ESG Reporting Market

Some of the leading and well-established players operating in the global ESG reporting market are Wolters Kluwer, PwC, Workiva, Nasdaq, Cority/Greenstone, Diligent, Emex, Novsito, diginex, Sphera, IsoMetrix Novem ESG, C3 AI.

Aggressive Growth Strategies Adopted by the Key Market Players to Establish Their Foothold in the Global ESG Reporting Market

All the leading players operating in the worldwide market are adopting aggressive growth strategies such as launching new products, acquiring start-up firms, and entering into partnerships to gain a larger market share. 

For instance, 

  • In July 2023, Wolters Kluwer launched TeamMate+ ESG. The solution provides easy access to essential ESG reporting standards and enables auditors to provide assurance over ESG reporting.
  • In May 2023, leading global enterprise Environmental, Health, and Safety (EHS) software provider Cority, acquired Greenstone, a sustainability & ESG reporting software provider.

The global ESG Reporting Market is set to witness a healthy growth in the upcoming years due to growing pressure on companies to measure, disclose, and make progress on ESG initiatives, technological innovations in ESG reporting software, and aggressive growth strategies adopted by the key market players operating in the global ESG Reporting market.

Get a Competitive Research Report on ESG Reporting Market @ https://meditechinsights.com/esg-reporting-market/

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