Over the past few years, more and more companies are interested in measuring and reporting their environmental, social, and governance (ESG) metrics. These metrics and ESG analysis are crucial for companies to assess their impact on society and the environment, as well as for investors to evaluate their sustainability and ethical practices. Due to the increased demand for ESG reporting, numerous software platforms have been developed to aid companies in tracking and analysing their ESG metrics.

This article will explore some of the best ESG software solutions or platforms available for businesses to monitor their ESG metrics.

What is ESG software?

ESG (Environment, Social, and Governance) software is an ESG assessment tool, which helps organisations track and report their initiatives related to environmental, health, regulatory, social, and safety management. The software is designed to help corporate leaders by collecting ESG data from various sources and presenting it in a way that can be easily understood. By communicating policies and procedures effectively, organisations can promote positive ESG practices that can improve their revenue, company valuation, and brand perception.

Top 10 ESG Software Platforms 

CSRHub

CSRHub is a software platform that operates in the cloud and offers ESG metrics for more than 20,000 companies globally. The platform uses an exclusive algorithm that consolidates and analyses information from over 600 sources to give companies extensive ESG ratings. CSRHub also supplies a dashboard that allows companies to monitor their ESG metrics and compare themselves with similar companies.

Sustainalytics

Sustainalytics is a provider of ESG research and ratings, offering companies various ESG data and analytics. These include company ratings, issue assessments, and custom research. Moreover, Sustainalytics has tools to help companies manage ESG risks and opportunities through portfolio analysis, benchmarking, and scenario analysis, making it one of the best ESG databases.

MSCI ESG

MSCI ESG is another leading ESG data provider that evaluates companies based on their ESG performance and offers ESG ratings and research. The platform uses a unique methodology to assess over 7,500 companies worldwide. Additionally, MSCI ESG provides tools to help companies include ESG factors in their investment decisions and portfolio management.

Bloomberg ESG

Bloomberg ESG is a platform that offers ESG data and analytics to companies. They provide ESG scores and ratings for over 11,000 companies globally, as well as custom ESG research and portfolio analytics. Additionally, the platform offers tools to help companies monitor their ESG metrics and compare themselves with their competitors.

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Truvalue Labs

Truvalue Labs is a platform that uses AI to instantly analyse ESG data. It rates and provides analytics on over 19,000 companies worldwide using natural language processing and machine learning algorithms. It also has various tools to help companies track their ESG metrics and identify potential risks and opportunities.

Refinitiv ESG

The Refinitiv ESG platform has a variety of ESG data and analytical tools available, such as company ESG ratings and scores, along with comprehensive ESG research reports. It includes portfolio analysis tools for investors to evaluate their investments' ESG risks and opportunities.

Goby

Goby is a platform that includes data collection, analysis, and reporting tools, as well as benchmarking against industry peers. Goby also offers consulting services to help companies develop and implement ESG strategies.

ESG Enterprise

ESG Enterprise is a platform that offers ESG data and analytics to investors and companies in different sectors. They offer ESG ratings and scores on over 20,000 companies, as well as industry-specific ESG reports and insights. Additionally, ESG Enterprise provides customised ESG research and advisory services to help companies improve their ESG performance.

EthosData

EthosData is a platform on the cloud that provides ESG analytics tools and reporting features. It has ESG data for more than 10,000 companies, and enables businesses to report on their sustainability through a suite of reporting tools. EthosData also offers consulting services to assist organisations in developing and implementing ESG strategies.

SASB Standards Navigator

The SASB Standards Navigator is a tool that offers access to the Sustainability Accounting Standards Board's (SASB) sustainability standards for reporting on ESG factors. By using this platform, businesses can determine the pertinent sustainability concerns for their industry and receive direction on how to disclose these matters. The SASB Standards Navigator further supplies utilities for evaluating and monitoring ESG measurements across different periods.

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Takeaway

With the increasing importance of ESG reporting for companies, the use of ESG software platforms has also significantly risen. These platforms have various features and tools that can assist companies in monitoring, organising, and reporting their ESG metrics. They are the top ESG data providers offering valuable insights into a company's ESG performance, including comprehensive ESG ratings, custom research, and benchmarking tools.

There are now ESG reporting platforms that specialise in providing scores and ratings from different ESG software providers like Refinitiv and Sustainalytics. KnowESG works in the same way, providing comparative information on company ESG performance that helps inventors quickly screen and compare, while companies can use the platform to identify areas for improvement and keep track of their own progress.

There will continue to be a greater reliance on ESG software and reporting tools to both enhance ESG performance and make well-informed choices. As the significance of ESG reporting increases, we can anticipate a surge in the development of novel ESG software platforms to cater to the rising need.

Start here with the KnowESG Company Directory, we are rapidly expanding our listing of company ESG ratings and sustainability reports.