ServiceNow ESG Solutions for More Sustainable Businesses

ServiceNow is a digital workflow company that makes work better for people. recently announced an integrated ESG solution enabled by the Now platform; It helps companies activate environmental, social and governance strategies, programs and initiatives. From increasing diversity and inclusion to reducing carbon emissions and bringing business flexibility.

Companies are increasingly prioritizing ESG initiatives to contribute to a more sustainable, fair and ethical world; Earn the trust of customers and stakeholders, and achieve the best business results. According to recent studies; 88% of investors agree that companies that prioritize ESG initiatives represent better long-term performance opportunities; Compared to companies that do not. Whereas globally consumers are nearly five times more likely to trust, buy, defend and protect companies with strong ESG missions.

Since 2018, more than 170 proposed ESG regulatory measures have emerged, and 82% of investors believe that companies are not prepared to comply with ESG reporting rules. In this sense, companies must be able to support new and existing proposed regulatory requirements to connect their individual ESG products and operating systems and enhance their ESG efforts; Achieve your ESG goals and meet increasing stakeholder expectations for high levels of transparency and communication. So the ServiceNow ESG solution, which is built on the Now Platform architecture and data model; Helps companies achieve these goals.

An integrated solution to enable ESG across the enterprise

ServiceNow’s ESG solution acts as an operational control tower to turn businesses’ ESG goals into reality. Provides visibility and transparency in ESG programs and initiatives; and helps them strategize, manage, monitor and report these efforts on a single platform. Key components of ServiceNow’s integrated solution include:

• ServiceNow ESG Management and Reporting. It enables companies to document material issues, set goals, and key performance indicators; Monitoring performance, collecting and validating audit-ready data, and generating information that aligns with core ESG reporting models.
• ServiceNow Project and Portfolio Management. Helps companies create and maintain ESG plans; Includes strategy, planning and budgeting tools, as well as continuous monitoring of costs, resources and results. Companies gain visibility into their ESG investments and improve the scale and effectiveness of their ESG efforts.
• ServiceNow Integrated Risk Management. Offers core governance capabilities as well as advanced risk assessment, ongoing monitoring, AI, audits, privacy, automation, and more. It integrates ESG data and ideas into effective compliance and risk management across the enterprise; With a real time view of ESG risk and compliance. As well as comprehensive analysis that improves decision making and business performance.

Collaboration with the ServiceNow ecosystem to solve new and existing ESG challenges

The ServiceNow ecosystem of partners, developers and customers, as well as other third parties, will strengthen the ServiceNow ESG solution. Today ServiceNow also announced the expansion of its alliance with KPMG. This will be the first launch partner for the ServiceNow ESG solution. The two companies will work together to enable ESG across the enterprise for mutual customers; Additionally, they develop new ESG workflows on the Now platform to further expand the capabilities of the solution.

Through its developer program, ServiceNow is also mobilizing Internet Service Providers (ISVs); Creating ESG workflows that meet the needs of different industries and sectors; Address specific physical issues, and expand ESG initiatives into the supply chain beyond the enterprise. for example:

• ecovadis. It is a sustainability rating platform that evaluates environmental, social and ethical practices. vendor risk management, by integrating EcoVadis with the ServiceNow product; We can help customers consider third party permanent exposure in addition to other types of risk.
• watershed. It allows companies to measure, reduce, eliminate and report their carbon emissions. By integrating with ServiceNow ESG Management and Reporting; Companies can integrate their climate action into their overall ESG program by importing carbon metrics from the watershed into Service Now.

regulatory bodies Collaborating with ServiceNow

This is for integrating your standards into the ESG Management and Reporting product. For example, ServiceNow is already licensed from the Value Reporting Foundation for SASB standards. Also, before the end of the year; ServiceNow seeks authorization to use the content of the Global Reporting Initiative standards in its ESG management and reporting solutions. These in-product capabilities will allow companies to generate reports and reports that align with some of the most common reporting standards.

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