Workiva Strengthens its Business Reporting Platform by Integrating with CDP to Advance Customers’ ESG Programs

Continuous Platform Innovation Transforms How Customers Drive Data Consistency and Assurance for Global ESG Reporting Requirements

Workiva Inc., the world’s leading cloud platform for assured integrated reporting, announced that CDP, widely regarded as the leading disclosure system for measuring environmental impacts, has been incorporated into the Workiva platform to advance customers’ ESG programs. This latest innovation leverages Workiva’s ESG Program and ESG Explorer to streamline customer responses to CDP questionnaires, empowering companies to manage their sustainability data more efficiently and effectively, and drive positive environmental impact and business outcomes. According to CDP, more than 18,700 companies, representing half of global market capitalization, disclosed environmental data through its online response system in 2022, an increase of 38 percent over the previous year.

“Having one single source of truth drives consistency, transparency, and auditability, which ultimately reduces costs and builds trust with stakeholders. As the technology company uniting financial reporting, ESG, audit and controls, Workiva is uniquely positioned to streamline the disclosure process while applying the same rigor and investor-grade assurance to climate data that’s expected of financial data,” said Paul Dickinson, Founder and Chair, CDP and ESG advisor, Workiva. “This is a significant and timely addition to Workiva’s ESG reporting solution, and I believe it will be a game-changer—not only for sustainability professionals, but for the finance, audit, and risk management teams that are now responsible for corporate climate disclosures as well.”

Marketing Technology News: MarTech Interview with Inman Breaux, CEO at Hyros Inc

Responding to CDP questionnaires and other ESG-related frameworks is often a time-consuming and complex undertaking involving multiple teams across different departments. Workiva simplifies this process through its centralized hub for reporting collaboration and automated data collection, saving companies time and resources while ensuring accuracy, consistency, and assurance.

“Customers tell us that some of their biggest challenges involve collecting data and aligning to global ESG frameworks and standards with rapidly changing reporting requirements. The new CDP reporting capability is an extension of our industry-leading ESG reporting solution and leverages Workiva’s unrivaled, integrated reporting platform that connects disparate data sources and supports our customers’ unique reporting needs,” said Paul Volpe, Senior Vice President of Growth and Head of ESG Solutions at Workiva. “There’s no time to wait. ESG reporting is quickly becoming a board-level mandate. Not only are organizations tasked with meeting their ESG commitments and science-based targets, leaders are making critical business decisions by evaluating both financial and ESG data together. Workiva is committed to investing in continuous innovation and working with partners like CDP to help more companies around the world manage and scale their positive environmental and social impact.”

Workiva’s new capability supplements a separate disclosure API pilot led by CDP. A Gold Accredited Solution Provider, Workiva was selected to pilot a new disclosure API that will enable customers to automatically transfer data from the Workiva platform into CDP’s online response system. For the 2023 disclosure cycle, the CDP API pilot is restricted to climate data, but Workiva’s CDP innovation also supports responses to the organization’s forests and water security questionnaires. From 2024 onwards, CDP hopes to be able to work with providers to make it available to responding cities, states and regions and look forward to expanding its reach and impact.

Marketing Technology News: Marketing Bottlenecks In Creating Customer Loyalty