Watershed and Workiva Launch Joint Climate Solution for Enterprise Customers

Rhea-AI Summary

Watershed and Workiva announce a strategic partnership aimed at enhancing carbon emissions reporting for public companies. This collaboration enables joint customers to integrate Watershed's carbon data into Workiva's ESG reporting platform, promoting streamlined compliance as regulatory bodies like the SEC and the European Union push for mandatory carbon disclosures. The partnership seeks to equip businesses with the tools necessary to navigate evolving environmental regulations effectively and improve data-driven decision-making for sustainability.

Positive

• Establishes a strategic partnership to enhance carbon emissions reporting.
• Allows integration of Watershed's carbon data into Workiva's platform.
• Addresses upcoming SEC and EU regulations on carbon emissions disclosures.

Negative

• None.

The partnership comes in anticipation of new federal regulations requiring publicly traded companies to disclose greenhouse gas emissions

SAN FRANCISCO & LONDON--(BUSINESS WIRE)-- Watershed, the leading enterprise climate platform, and Workiva (NYSE:WK), the world’s leading platform for regulatory, financial, and ESG reporting, today announced a strategic partnership that provides joint customers with a unified solution for consolidated, audit-grade carbon emissions reporting.

Watershed, which provides enterprise climate management for more public companies than any other solution, will complement Workiva's trusted ESG reporting platform by allowing joint customers to aggregate Watershed’s carbon data into Workiva. Workiva's integrated reporting platform streamlines processes and connects data and teams to enable investor-grade, audit-ready reporting. Joint customers will be able to bring together best-in-class solutions and data into one reporting platform to ensure they meet their ongoing ESG disclosures, accelerate climate action, and future-proof their businesses within the rapidly-evolving regulatory landscape.

The partnership comes at a critical time amid proposed regulations from the U.S. Securities and Exchange Commission (SEC) to formalize and mandate carbon emissions disclosures by publicly traded companies, as well as the European Union’s Corporate Sustainability Reporting Directive (CSRD), both of which are addressed by the Watershed and Workiva partnership.

“We’re excited to partner with Workiva to ensure our joint customers are well-prepared for a complex and evolving disclosure landscape,” said Watershed co-founder Taylor Francis. “Together, we’re delivering a solution that both streamlines compliance and enables more actionable decarbonization as businesses work to minimize climate risks and maximize transition opportunities.”

"ESG reporting is complex, requiring the ingestion, capture, management, and reporting of financial and non-financial data from many disparate sources. Workiva’s end-to-end platform powers transparent reporting by enabling customers to streamline the flow of data, ensure accuracy to meet evolving ESG disclosure requirements, and validate data for assurance,” said Julie Iskow, President & COO of Workiva. “By partnering with Watershed, we will collectively help our mutual customers make better data-driven decisions for their companies and the environment.”

Watershed was purpose-built to meet the most rigorous regulatory standards. Watershed uses the latest climate science and auditor-approved methodologies to produce highly granular carbon footprints based on customers’ financial and operational data. This Greenhouse Gas Protocol (GHGP)-compliant measurement can then be applied to multiple reporting frameworks, including the Task Force on Climate-Related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP), Science-Based Targets Initiative (SBTi), Sustainability Accounting Standards Board (SASB), and Global Reporting Initiative (GRI). Customers also have access to Watershed Marketplace, Watershed’s suite of highly-vetted renewable energy and carbon removal offerings.

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ABOUT WATERSHED: Watershed is the enterprise climate platform. Leading companies like Walmart, Airbnb, Stripe, Klarna, and Block use our software to run end-to-end climate programs with quantifiable results. Watershed delivers granular, audit-grade carbon measurement; one-click disclosure and reporting; and real emissions reduction—all in a single, intuitive, enterprise-grade software platform. Watershed customers have access to our exclusive marketplace of scientifically vetted, high-additionality carbon removal projects and high-quality offsets; in-house climate and policy expertise; and ongoing support throughout their climate journey. For more information, please visit https://watershed.com/.

ABOUT WORKIVA: Workiva Inc. (NYSE:WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading regulatory, financial, and ESG reporting solutions to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Our cloud-based platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005564/en/

Amelia Penniman (amelia@watershed.com)

Source: Watershed

FAQ

What is the partnership between Watershed and Workiva about?

The partnership aims to create a unified solution for carbon emissions reporting, allowing customers to integrate carbon data into Workiva's ESG platform.

How does the Watershed and Workiva partnership benefit customers?

Customers will benefit from streamlined compliance processes and better tools for managing ESG disclosures amidst evolving regulations.

What new regulations are influencing this partnership?

The partnership is influenced by proposed SEC regulations and the EU's Corporate Sustainability Reporting Directive which mandate carbon emissions disclosures.

What can joint customers of Watershed and Workiva expect?

Joint customers can expect access to an integrated platform that supports audit-grade carbon emissions reporting and compliance with ESG standards.

What is the significance of the partnership for publicly traded companies?

It supports publicly traded companies in preparing for mandatory carbon emissions disclosures, helping them navigate a complex regulatory landscape.