Environmental aspects (“environment”) are gaining more and more weight in the areas of social (“social”) and corporate management (“governance”) in the assessment of companies and their future development. This is promoted by regulatory measures such as the currently emerging EU taxonomy or the Sustainable Finance Disclosure Regulation in the United Kingdom. However, the increasing interest of investors themselves is also a driver of the ESG issue.
The regulations – and the associated reporting framework – are evolving faster than ever before and turning non-financial data into important business information, emphasizes the Berlin Greentech Plan A ( website). Such ESG reporting regulations now affect more than 75 percent of European companies. One of the biggest challenges in meeting these requirements is the time it takes to report. In addition, the question of secure and compliant communication of the results arises. Plan A wants to address precisely these points with the new ESG manager.
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Open to adjustments
According to the provider, the integrated module should automate the measurement, analysis, and reporting of ESG performance and act as central data management and reporting platform. Sustainability managers from financial institutions and venture capital companies can control the reporting process with subsidiaries, portfolio companies and suppliers via Plan A’s SaaS platform.
In that way, the effort involved in data acquisition and analysis is reduced. At the same time, a greater focus can be placed on ESG impact optimization. The reporting requirements can either be customized or follow internationally recognized standards.
Platform as a tool
Seed funding in March was followed by a Series A funding round in November that raised $10 million in new funding. The technology company is primarily using this fresh capital to further expand its SaaS platform. The calculation engine and machine learning competence will be deepened and the decarbonization tools and Scope 3 calculations expanded to include additional industries.
Existing software functions included a detailed CO2 balance as well as the planning of the decarbonization of companies supported by AI. In addition, Plan A is now introducing the tool for measuring, analyzing, and reporting ESG performance. Greentech announced that it would continuously develop it further in order to expand it to other industries, take into account all existing regulations and respond to future regulatory changes at an early stage.
According to Jordanova, the ESG manager offers financial institutions a transparent 360-degree overview of their ecological, social, and entrepreneurial impact. That enables them to stay ahead of the law, reduce risks and drive sustainable transformation, according to the CEO of Plan A.
At the same time, she announced a further expansion of the company. The previous locations in Berlin, Munich, and Paris are to be followed by others in Germany and abroad. In addition, the local teams will continue to grow exponentially, especially in the areas of data engineering and software development.
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First published in IT Finanzmagazin, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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