Wolters Kluwer CCH Tagetik, a leading global provider of information, software and services, and DFGE (Institute for Energy, Ecology and Economy GmbH), are collaborating to help DACH businesses drive the digital transformation of their ESG performance and reporting, in preparation for 2024 Corporate Sustainability Directive (CSRD) requirements.

“As a leading sustainability intelligence provider, DFGE has supported life cycle assessments, sustainability calculations and corporate social responsibility (CSR) strategies for companies for more than two decades,” Wolters Kluwer said in a statement. DFGE reportedly chose to collaborate with Wolters Kluwer CCH Tagetik i2n recognition of the solution’s proven track record for digitally enabling companies to gain visibility into, connect, and analyze enterprise-wide data in a way that helps them better manage complex global requirements, drive growth, and navigate change.”

Through this new, strategic collaboration, DFGE will support and guide customers in helping them define their ESG strategy and calculation frameworks. DFGE will also utilize the new CCH Tagetik ESG & Sustainability Performance Management solution to accelerate its clients’ efforts to collect, report, and analyze their ESG data. This new, audit-friendly CCH Tagetik solution captures, consolidates, and facilitates the reporting of ESG data and operational key performance indicators (KPIs), as required by an increasing number of global governing bodies, including CSRD. By combining DFGE’s ESG strategy and consulting expertise with the cloud-based technology expertise of CCH Tagetik, the two companies will provide a holistic approach to supporting the long-term, sustainable growth of their shared clients.

Jörg Plass, DACH Director of Operations, at Wolters Kluwer CCH Tagetik, said: "Just like quality financial reporting, quality ESG reporting requires a huge volume of datasets, from disparate businesses, divisions and functions, to be collected in a way that allows them to be reported, analyzed, and audited for accuracy. C-suite leaders are quickly recognizing that spreadsheets and isolated solutions no longer suffice for larger organizations that are committed to ESG. Through this strategic collaboration with DFGE, we will mutually support customers in digitally transforming their ESG performance and reporting efforts – so they can leverage sustainability as a strategic advantage.”

Dr.-Ing. Thomas Fleissner, Founder and Managing Director of DFGE, added: "Providing transparency into ESG practices is no longer an option, it’s a necessity for large companies to remain competitive and relevant in today’s business landscape. The path to holistic, transparent, strategic ESG management and reporting is complex. Above all, it is important to have comprehensive ESG strategies and valid calculations so that advanced technologies like CCH Tagetik can help businesses cut through that complexity, mitigate risk, and comply with the ever-changing regulatory environment, while identifying new opportunities to advance their journeys as good corporate citizens.”

Founded in 1999 as a spin-off of the Technical University of Munich, DFGE - Institute for Energy, Ecology and Economy - offers consulting services in the field of sustainability. The institute’s "Sustainability Intelligence" offering includes calculation management, reporting solutions as well as strategy development and aims to bundle the effort of participating in multiple sustainability/CSR standards and rankings such as the Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), Dow Jones Sustainability Index (DJSI), EcoVadis or the Global Reporting Initiative (GRI) and to develop overarching strategies such as a sustainability strategy in line with the Sustainable Development Goals (SDGs).

The collaboration news follows from Wolters Kluwer’s announcement earlier this week that it has entered into a strategic partnership with LTIMindtree, a global technology consulting and digital solutions company. This partnership provides LTIMindtree’s global clients with access to the CCH Tagetik Corporate Performance Management (CPM) solution, which supports and accelerates the digital transformation of financial operations through a unified platform.

The award-winning CCH Tagetik solution provides an intuitive interface, built-in financial intelligence and automated workflows that go beyond traditional CPM solutions, empowering finance teams across industries to complete everyday financial processes, swiftly, so that teams can focus on strategic goals. It also helps users adhere to major financial regulations and simplify compliance processes, as well as improving productivity and reduce financial close cycle time, allowing users to make faster and better-informed financial decisions.