PwC and SAP have announced a new co-innovation strategy to help enterprises make sustainability an integral part of standard business operations and address key environmental, social, and corporate governance (ESG) business-wide challenges.
The strategy will build on the existing alliance between SAP and PwC, and create co-innovated solutions aimed at enabling businesses to apply ESG metrics through their operations that are trustworthy, auditable, and verifiable.
To help operationalize sustainability, the new strategy will support the incorporation of ESG measures directly into business functions, such as trading, capitalization and tax.
Areas that will be covered by this strategy include: carbon measuring, reporting and steering and supply chain decarbonization, climate risk and competitive analysis, as well as third-party risk management, compliance, trading optimization and tax credit recognition.
The enterprise tools that will be leveraged for these solutions include: PwC’s ESG and accounting expertise, and the SAP Cloud for Sustainable Enterprises solution, along with the SAP Sustainability Control Tower solution and the SAP Product Footprint Management solution.
Bob Moritz, global chairman at 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. 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 at 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.”