Workiva Inc. (NYSE:WK), the global leader in regulatory, financial and ESG reporting platforms, and Persefoni, Inc., the leader in SaaS climate management and accounting platforms that help businesses and financial institutions calculate, analyze, manage and report their carbon footprint in real time, announce a strategic partnership to provide transparent carbon reporting for investors.
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The SEC and other global regulators have introduced new climate reporting guidelines that will have a profound impact on organizations. CFOs, sustainability leaders and boards will need to work together to incorporate the carbon reporting requirements of a revised regulatory framework into their day-to-day operations.
The partnership creates the only solution in the market to unify financial and ESG reporting with deep granularity of greenhouse gas emissions accounting, in compliance with the GHG protocol, to trace Scope 1 carbon emissions, emissions Scope 2 indirect emissions, and Scope 3 upstream and downstream emissions.
“Workiva continues to develop and deliver innovative capabilities to ensure that our end-to-end platform gives our customers the tools to keep up with evolving ESG reporting requirements,” said Julie Iskow, Chief Operations Officer, Workiva. “Through this partnership with Persefoni, we are able to offer carbon data for investors and boards of directors that can inform decision-making for business and the environment.”
A technology solution plays a crucial role in becoming and remaining regulatory compliant. Workiva and Persefoni will jointly offer a connected reporting solution, with a complete transfer of carbon data between the two platforms, allowing users to free themselves from a disparate and manual methodology. This partnership will save users time, increase efficiency, and reduce complexity and risk. It will also improve accuracy and transparency during the reporting data recording process.
“We are excited about the value our partnership will generate for our joint customers by simplifying compliance with complex climate reporting requirements,” said Kentaro Kawamori, CEO of Persefoni. “Together, Workiva and Persefoni are becoming the leader in simplifying ESG and financial reporting to ensure compliance with today’s and tomorrow’s requirements.”
The technology behind the partnership:
Persefoni radically simplifies the technical barrier to accessing carbon accounting, having managed to codify and integrate more than 750 pages of GHG protocol technical guidelines into its platform. In addition, Persefoni is the first and only distributor to codify the international PCAF (Partnership for Carbon Accounting Financials) standard for financed emissions calculations. The platform enables users to transform financial, operations, and supply chain data into certified carbon footprint data, dramatically reducing complexity and dramatically increasing responsiveness across multiple reporting and climate sustainability reporting frameworks .
The partnership between Workiva and Persefoni will allow users to easily integrate and transfer data (activity indicators, carbon footprint calculations, climate trajectory models, secondary data sets, operational, financial and logistical information, and more ) between the platforms of the two companies, and will provide access to the carbon calibration and offsetting market.
Joint customers will then be able to use the Workiva Framework Explorer solution to compare the data against requirements found in a wide range of frameworks, including the United Nations Sustainable Development Goals (SDGs), the Working Group on Public Information (TCFD), the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Carbon Disclosure Project (CDP), and communicate the results to all stakeholders.
About Workiva
Workiva Inc. (NYSE: WK) simplifies complex jobs for thousands of organizations worldwide. Customers trust Workiva’s open, intelligent, and intuitive platform to connect data, documents, and people. The result: greater efficiency, greater transparency and reduced risk. To learn more, visit workiva.com.
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About Persefoni
Persefoni, Inc. is the leading climate management and accounting platform. The company’s software-as-a-service solutions enable businesses and financial institutions to meet climate information disclosure requirements with the utmost confidence, transparency and simplicity. As a carbon ERP, the Persefoni platform provides users with a single source of carbon truth for the entire organization, allowing them to manage their carbon transactions and inventories with the same rigor and confidence as their financial transactions. More information at https://persefoni.com.
Follow Persefoni on LinkedIn: https://www.linkedin.com/company/persefoni.
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