EY collaborates with SAP to innovate and enhance transformations that drive value-led sustainability and climate action

Rhea-AI Summary

EY expands alliance with SAP to accelerate value-led sustainability action

Positive

• EY and SAP collaborate to create software solutions for sustainability strategies
• EY provides real-time legal and regulatory updates on sustainability incentives
• Collaboration aims to embed sustainability data into business processes

Negative

• None.

• Global collaboration will enable clients to align carbon footprint and financial data for streamlined reporting and enhanced operational performance, as well as to navigate rapidly changing tax regulations and leverage incentive opportunities
• Expanded alliance plans to have a focused go-to-market approach to help drive rapid adoption

LONDON, Oct. 12, 2023 /PRNewswire/ -- The EY organization today announced an expanded alliance with SAP SE (NYSE: SAP) to help organizations accelerate value-led sustainability action. Teams of EY professionals are advising SAP and customers on the core design and blueprint of the next generation of software solutions to create more impactful climate, nature and social impact strategies.

Together with SAP's leading software technology, this collaboration supports organizations by extending sustainability functionality into offerings tailored to specific needs, enhancing operational performance. They include:

• The SAP® Sustainability Control Tower solution: Leveraging expertise in sustainability, assurance and reporting, with a broader focus on supply chain, EY teams are working with SAP to define the capabilities needed for the next generation of sustainability solutions. EY solutions leveraging SAP Sustainability Control Tower help enable organizations to progress from Record to Report to Action, report against multiple regulatory frameworks and embed sustainability metrics in their internal performance management processes.
• SAP S/4HANA® Cloud transformation with sustainability at the core: EY teams and SAP are helping companies embed environmental considerations in business processes across finance, tax, supply chain, manufacturing and human resources as part of their digital transformation with SAP S/4HANA Cloud.
• Carbon accounting and the green ledger concept: EY teams are bringing market-leading climate change consulting and carbon accounting experience to help realize the green ledger concept envisioned by SAP. Both organizations will collaborate with select clients to further develop the requirements and analytics needed to move greenhouse gas (GHG) accounting from estimates to a more accurate reflection of a company's footprint, allowing companies to manage GHG performance across the enterprise and accelerate climate action.
• SAP's Responsible Design and Production: The EY organization is providing real-time legal and regulatory updates on sustainability incentives, carbon regimes, environmental taxes and tax exemptions across the globe, to support SAP's Responsible Design and Production solution.

Steve Varley, EY Global Senior Advisor, says:

"Organizations need to shift from talking about pledges and promises to showcasing evidence of what they have achieved, actions taken and progress. Leveraging accurate and comparable sustainability data, at the same level as financial data, can help accomplish this.

"This expanded alliance will allow both EY and SAP to provide clients with services, capabilities and technology needed to create and protect value."

Gunther Rothermel, Co-General Manager and Chief Product Officer for SAP Sustainability, says:

"Together, SAP and EY can achieve even greater market and planetary impact by working together on a joint sustainability ambition. Customers want the ability to track sustainability metrics the same way they do financial data, and we're focused on helping them do that. Leveraging our already strong collaboration, we will help customers advance their sustainability journey by embedding sustainability data into business processes and decisions."

In addition, the EY organization and SAP plan to continue with go-to-market activity to support SAP S/4HANA, the RISE with SAP solution and the GROW with SAP solution with sustainability use cases and accelerators.

For more information about the EY and SAP collaboration and their respective solutions, please visit ey.com/sap.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

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SOURCE EY

FAQ

What is the expanded alliance between EY and SAP about?

The expanded alliance aims to accelerate value-led sustainability action.

What are the key areas of collaboration between EY and SAP?

The collaboration focuses on creating software solutions for sustainability strategies, providing legal and regulatory updates, and embedding sustainability data into business processes.

What are the benefits of the collaboration for organizations?

The collaboration helps organizations align carbon footprint and financial data, navigate tax regulations, and leverage sustainability incentives.

Where can I find more information about the EY and SAP collaboration?

More information can be found at ey.com/sap.