Companies increasingly face pressure from stakeholders, regulators, and the broader market to account for and report their carbon emissions. Organizational leaders, investors, and employees must understand how companies are measuring, managing, and reducing their emissions to identify and decrease risks associated with climate change. Producing trustworthy and transparent carbon disclosures is critical, but can be difficult, particularly considering organization-wide challenges regarding data collection and internal controls.
With the ever-evolving regulatory landscape focusing its attention on carbon emissions data, the time is now to architect and build robust data governance and internal controls for carbon footprint data.
The carbon accounting process is more complex than financial accounting, and climate disclosures must be treated with the same level of rigor as any other investor-grade report. New regulations will require organizations to develop internal controls on these processes to ensure accuracy - the same way organizations have designed and implemented controls to ensure precision while reporting financial results.
That’s why Persefoni has partnered with Workiva, a leading platform for financial and non-financial reporting.
How it Works
Persefoni works with Workiva to streamline your carbon accounting and reporting process by injecting our auditable Footprint Activity Ledger data into the Workiva platform. This greatly reduces reporting complexity because you can automate the flow of emissions data into the platform and then integrate that with ESG and or traditional business data. This process increases ESG data visibility resulting in better reduction strategies, integrates climate data with traditional business data used for management decisions, and enables organizations to execute smoothly on a report keeping all stakeholders informed. Our joint solution automates the carbon accounting process from activity to reports streamlining and de-risking your process end-to-end, so you can focus on the things that matter most!
The solution journey begins in Persefoni, automating footprint calculations by taking your business activity data via integrations with source systems, or templated data uploads, and translating it into operational or financed emissions. After calculating your holistic footprint, you build an automated workflow that brings your activity data straight into the Workiva platform - generating a single source of truth for all of your ESG data.
Once your footprint data is then aggregated in Workiva, it can be used across various reporting documents. For example, after building an ESG report, your summarized metrics of annual emissions can be set up to update automatically as data changes or you begin new reporting periods. And if you plan to disclose climate information to the SEC, your ESG reports and carbon data can be leveraged to produce an XBRL report within Workiva alongside your 10-K report. Greatly reducing complexity.
The Workiva and Persefoni teams collaborate frequently across our business to help enable your success. Through this collaboration, we have built a joint solution playbook to aid in timely and audit-friendly implementations.
Interested in learning how Persefoni and Workiva can automate your footprint calculation and reporting process? Schedule a demo.
Persefoni Inc. is a 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 www.persefoni.com.
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/solutions/esg-reporting.