Integrated environmental, social and governance (ESG) solutions combine the power of Service Now’s platform, new and existing products, and partner ecosystems to help companies function in a better world.
Santa Clara, California, October 12, 2021–(BUSINESS WIRE)–Service Now (NYSE: NOW), the leading digital workflow company that makes work, works better for people, today announced a new, integrated ESG solution powered by the Now platform that enables companies to Helps to activate ESG strategies, programmes. , and initiatives – from increasing diversity and inclusion and reducing carbon emissions to enabling business flexibility – across the enterprise. ServiceNow’s ESG solution combines the power of the Now Platform, new and existing products, and ServiceNow’s partner ecosystem to help organizations plan, manage, operate, and report a greater environmental, social and business impact on their ESG programs and initiatives. can get help.
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ServiceNow ESG Management and Reporting (Graphic: Business Wire)
Companies are increasingly prioritizing ESG initiatives to help them contribute to a more sustainable, equitable and ethical world, build customer and stakeholder trust, and deliver successful business results. According to recent studies, 88% of investors agree with companies that prefer ESG initiatives, which represent better opportunities for long-term returns than companies that do not, and for global consumers to rely on companies. Almost five times more likely to buy, champion and protect them. Strong ESG objective.
Today’s ESG efforts are often ad hoc, silent and manual. Currently available technical products support discrete, disconnected ESG efforts, exacerbating the problem. At the same time, global ESG regulations are evolving rapidly: there have been more than 170 ESG proposed regulatory measures since 2018, and 82 percent of investors believe that companies are unwilling to comply with ESG reporting rules. . To support new and existing proposed regulatory requirements for companies to link their ESG products and operating systems and enhance their ESG efforts, meet their ESG goals and support stakeholders’ growing expectations for greater levels of transparency and disclosure. should be able to. ServiceNow’s ESG solution helps companies meet these objectives by leveraging the single data model and single architecture of the Now platform.
“ESG is a top issue for the C-Suite today. Leaders need better ways to plan, manage, govern, and report on their companies’ investments toward a more sustainable, equitable and ethical world,” Gina Mastantuono, Chief Financial Officer of ServiceNow, said. “With the power of the NOW platform, ServiceNow is well suited as a strategic ESG platform partner for business, ultimately helping leaders gain operational control over a growing number of ESG initiatives to drive positive, lasting change globally. does.”
“For ESG initiatives to be effective, companies must be fully informed about their ESG efforts and performance to know how they are tracking toward their goals,” said Kim Nickel, research director at Verdentix. “We hope that Service Now’s new ESG solution will leverage the company’s existing platform to better enable this visibility.”
With its latest integrated ESG solution, ServiceNow is taking a holistic approach to help organizations increase impact and build greater customer, investor and employee trust. Organizations can turn ESG goals into meaningful impact and create long-term value by innovating processes and delivering lasting results.
Providing an integrated solution to enable ESG across the enterprise
Leveraging the power of the Now platform, ServiceNow’s new ESG solution provides visibility and transparency in their ESG programs and initiatives to help companies turn their ESG goals into reality and help them strategize, manage, governance and report To serves as an operational control tower. Key components of ServiceNow’s integrated solutions on one platform include these efforts:
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*NEW* ServiceNow ESG Management and Reporting Enables companies to document physical topics, establish goals and KPIs, track performance, collect and validate audit-ready data, and create disclosures that align with key ESG reporting frameworks.
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ServiceNow Project and Portfolio Management Helps create and maintain a company’s ESG roadmap, which includes strategy, planning and budgeting tools and ongoing tracking of costs, resources and results. Companies gain visibility into their ESG investments and improve the scale and impact of their ESG efforts.
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ServiceNow Integrated Risk Management Offers core governance capabilities and advanced risk assessment, continuous monitoring, AI, audits, privacy, automation, and more. It integrates ESG ideas and data with ESG compliance and risk as well as rich analysis in effective enterprise-wide risk and compliance management that improves decision making and business performance.
These products seamlessly combine to generate even greater enterprise-wide ESG value and impact with Service Now’s low-code tools and solutions such as Business Continuity Management, Vendor Risk Management, Security Operations, Hardware Asset Management, and HR Service Delivery. work.
Collaborating with the ServiceNow ecosystem to solve new and existing ESG challenges
The ecosystem of ServiceNow partners, developers, customers and other third parties will act as a force multiplier for the ServiceNow ESG solution. Today ServiceNow also announced an expanded alliance with KPMG, where KPMG will serve as the lead launch partner for ServiceNow’s ESG solutions. The two companies will work together to enable ESG across the enterprise for their joint customers, while also building new ESG workflows on the Now platform to further enhance the solution’s capabilities.
Through its developer program, ServiceNow is mobilizing ISVs as well as other third parties and customers to create specialized ESG workflows that meet the specific needs of different industries and geographies, addressing specific content issues. and extends ESG initiatives beyond the enterprise. the supply chain. for example:
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ecovadis Provides a sustainability rating platform to assess environmental, social and ethical practices. By integrating EcoVadis with the ServiceNow vendor risk management product, we can help customers consider third party sustainability performance alongside other types of risks – providing a comprehensive view of third party risk.
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watershed Enables companies to measure, reduce, remove and report their carbon emissions. Major companies—including Service Now, Airbnb, DoorDash, Stripe, Shopify and SweetGreen—are using the watershed on their way to achieve zero carbon. By integrating with ServiceNow ESG management and reporting, companies can integrate their climate work into their overall ESG program, importing carbon metrics from the watershed into ServiceNow.
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reporting standards body ESG has partnered with ServiceNow to integrate their standards into the management and reporting product. For example, ServiceNow has already licensed the Value Reporting Foundation’s SASB standards. And ServiceNow is currently in the process of requesting authorization to use Global Reporting Initiative (GRI) standard content in its ESG management and reporting solutions before the end of the year. These product capabilities enable companies to produce reporting and disclosures that align with some of the most commonly used reporting standards.
Availability and additional information
Third Party Comments on ServiceNow’s ESG Solutions:
ecovadis
David McClintock, Marketing Director, EcoVadis, said, “Most leaders now realize that 80% of sustainability impacts are in the supply base, and thus companies need to expand their visibility beyond the walls of the enterprise and across their value chain. ” “Working closely with ServiceNow, we are building a powerful new integration that allows ServiceNow customers to incorporate supplier ratings, insights and benchmarks into their sustainable buying and risk management initiatives, leading to better business decisions. Helps to pick up.”
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“We welcome that Service Now is currently in the process of GRI software and tools certification,” said Mirjam Groten, GRI’s Chief Business Development Officer. “They will soon be authorized to use GRI standard materials in their new ESG solutions to help businesses, governments and other organizations understand and communicate their sustainability impacts on the economy, environment and society.”
NHS National Services Scotland
“Working with Service Now, we were able to build and produce a dynamic, integrated workflow within a six-week period that manages our national immunization program, which has helped over 2.5 million of our highest-risk citizens has helped protect us,” said Steven Flockhart, Director of Cloud Engineering & Operations, NHS National Services Scotland (NSS). “We look forward to leveraging the potential of Service Now’s new ESG solutions to deliver strong and impactful results so that society is a better place for all.”
watershed
“We are working closely with Service Now as they aim to achieve net zero carbon across the entire value chain by 2030,” said Watershed co-founder Taylor Francis. “Now, with our partnership with Service Now and integration with ESG Management and Reporting, we will be able to help others follow a similar path. It is time to move from conversation to action. We companies We’re working together to help them go beyond just measuring their carbon graphs to really nudge it down to zero.”
value reporting foundation
“At the Value Reporting Foundation (VRF), we connect businesses and investors with the financial implications of sustainability,” said Ryan Suen, SASB Standards Integration Manager for VRF. “We are working together to leverage the power of ServiceNow’s platform to help companies provide decision-relevant information to their investors.”
use of forward-looking statements
This press release contains “forward-looking statements” regarding expectations, beliefs, plans, intentions and strategies relating to ServiceNow’s integrated ESG solution and related products. Such forward-looking statements include details regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by forward-looking statements. If any such risk or uncertainty occurs or if any assumptions prove to be false, our results could differ materially from the results expressed or implied by forward-looking statements made by us. We do not undertake, nor do we undertake, any obligation to update forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, without limitation, (i) changes to the ESG regulatory landscape; and (ii) unforeseen delays, difficulties and costs in providing an ESG solution or implementing this strategy. Further information about the factors affecting our financial and other results is included in the filings we have with the Securities and Exchange Commission from time to time.
About Service Now:
ServiceNow (NYSE: NOW) is building a world of work, making work better for people. Our cloud-based platform and solutions deliver digital workflows that unlock great experiences and productivity for employees and the enterprise. For more information visit: www.servicenow.com.
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