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Workiva and Persefoni Partner to Streamline Investor-Grade Carbon Disclosure Data
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Workiva Inc. (NYSE:WK) has announced a strategic partnership with Persefoni, Inc., aiming to enhance carbon disclosure for their joint customers. This collaboration will provide a unique solution that integrates financial and ESG reporting, complying with emerging climate-related disclosure guidelines. The partnership will allow for efficient data transfer between the platforms, improving accuracy and transparency in carbon emissions reporting. Julie Iskow, Workiva's COO, emphasized the commitment to innovative ESG solutions, while Persefoni's CEO highlighted the reduced complexities for users in meeting regulatory requirements.
Positive
Strategic partnership with Persefoni enhances carbon disclosure capabilities.
First market solution that combines financial and ESG reporting effectively.
Improved efficiency and transparency in carbon emissions reporting processes.
Negative
None.
AMES, Iowa--(BUSINESS WIRE)--
Workiva Inc. (NYSE:WK), the world’s leading platform for regulatory, financial and ESG reporting, and Persefoni, Inc., the leading Climate Management and Accounting SaaS Platform helping enterprises and financial institutions easily calculate, analyze, manage, and report their real-time carbon footprint, today announced a strategic partnership to provide transparent, investor-grade carbon disclosures seamlessly to joint customers.
The SEC and other global regulators are announcing new climate-related disclosure guidelines that will impact organizations in a pervasive way. CFOs, sustainability leaders, and their boards will need to collaborate to incorporate carbon reporting requirements of a revised regulatory framework into daily respective operations.
The partnership establishes the only reporting solution in the market that unifies transparent and connected financial and environmental, social and governance (ESG) reporting with deeper granularity around greenhouse gas accounting in accordance with the greenhouse gas protocols (GHGP) to track carbon emissions in Scope 1, indirect emissions in Scope 2, and upstream and downstream emissions in Scope 3.
“Workiva continues to develop and deliver innovative capabilities that ensure our end-to-end platform enables our customers to meet evolving ESG disclosure requirements,” said Julie Iskow, chief operating officer of Workiva. “By partnering with Persefoni, we're able to deliver investor and board-grade carbon data that can be used to make better decisions for businesses and the environment.”
A technology-enabled solution is critical to an organization becoming compliant and thereafter maintaining compliance with regulation. Workiva and Persefoni will jointly offer a connected reporting solution to seamlessly transfer carbon data between the two platforms, empowering users to pivot away from disparate spreadsheets and manual processes. This will allow users to save time, increase efficiency, and reduce complexity and risk. It will also improve overall accuracy and transparency in the record-to-report process.
“We’re excited about the value our partnership will create for our joint customers by easing the path to satisfying complex climate-related disclosure requirements,” said Kentaro Kawamori, chief executive officer of Persefoni. “Together, Workiva and Persefoni become the market leader at simplifying complex ESG and Financial filings, both today and into the future.”
The Technology Behind the Partnership:
Persefoni radically simplifies the technical barrier to entry for carbon accounting, having successfully codified the 750+ pages of the GHGP technical guidance into its platform. Additionally, Persefoni is the first and only vendor to codify the global standard for financed emissions calculations, the Partnership for Carbon Accounting Financials. The platform enables users to turn financial, operational, and supply chain data into certified carbon footprint data, greatly reducing complexity and significantly increasing time to insights across multiple climate disclosure and sustainability reporting frameworks.
The Workiva and Persefoni partnership will enable users to seamlessly integrate and transfer data between the companies’ platforms, as well as allow access to carbon benchmarking and a carbon offsets marketplace. These include: activity data, carbon footprint calculations, climate trajectory models, secondary data sets, operational, financial and supply-chain data, and more.
Joint customers will then be able to use the Workiva Framework Explorer to compare data to requirements listed across multiple frameworks, including the United Nations Sustainable Development Goals (UNSDGs), Task Force on Climate-Related Financial Disclosures (TCFD), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and Carbon Disclosure Project (CDP), and report outcomes to all stakeholders.
About Workiva
Workiva Inc. (NYSE: WK) simplifies complex work for thousands of organizations worldwide. Customers trust Workiva’s open, intelligent and intuitive platform to connect data, documents and teams. The results: more efficiency, greater transparency and less risk. Learn more at workiva.com.
Persefoni, Inc., is the leading Climate Management & Accounting Platform (CMAP). The company's Software-as-a-Service solutions enable enterprises and financial institutions to meet stakeholder and regulatory climate disclosure requirements with the highest degree of trust, transparency, and ease. As the ERP of Carbon, the Persefoni platform provides users a single source of carbon truth across their organization, enabling them to manage their carbon transactions and inventory with the same rigor and confidence as their financial transactions. Learn more at https://persefoni.com.
