Global ESG Reporting Market is projected to grow at a healthy CAGR of ~15% by 2027

BRUSSELS - Sept. 7, 2023 - PRLog -- Environmental, social, and governance (ESG) data assesses a company's non-financial performance and sustainability policies.

The three pillars of ESG include:

• Environmental Data
• Social Data
• Governance Data

ESG measurements are classified as quantitative or qualitative. Quantitative metrics are numerical statistics that can be directly measured and compared.

Rising demand from investors and companies drives the Global ESG reporting market

Investors are increasingly using ESG indicators to analyze firms they want to buy or invest in. ESG software monitors ESG activities, and investors use ESG reports to filter assets, align investments, and avoid corporations that may cause environmental harm, corruption, or social blunders.

"……Nowadays, investors while evaluating companies look for ESG disclosures to steer their investment decision-making. Investors perceive that organizations that perform well on ESG metrics are relatively less risky, better positioned for long-term growth, and better equipped for uncertainty……"

-      Marketing Director, ESG Reporting Software Provider, U.S.

Increasing prominence of artificial intelligence (AI) offers transformative opportunities for organizations in their sustainability journey thus driving the ESG reporting market

The implementation of AI is transforming the ESG landscape. It is rapidly being used to gather and analyze massive volumes of ESG data, automate processes, find trends, and forecast.

• In March 2023, Novem ESG launched its software that is automated by Artificial Intelligence (AI) for analysis of data against ESG (Environment, Social and Governance) regulations and checklists

Regulatory compliances drive the demand for ESG disclosures expanding the ESG Reporting Market

There are a growing number of regulations across the world requiring organizations to disclose and report on ESG initiatives, sustainability, and governance.

• In the U.S., the US SEC Climate Guidance requires public companies to disclose material business risks to investors, transparently through regular filings with the SEC, including climate change risks that may develop on their business

Competitive Landscape Analysis of the ESG Reporting Market

Some of the key players operating in the market include Wolters Kluwer, PwC, Workiva, Nasdaq, Cority/Greenstone, Diligent, Emex, Novsito, diginex, Sphera, IsoMetrix  Novem ESG, C3 AI among others.

The ESG Reporting Market is expected to gain traction in the coming years as a result of increased pressure on companies to measure, disclose, and progress on ESG initiatives, technological advancements in ESG reporting software, and aggressive organic and inorganic growth strategies adopted by the players.

For more comprehensive insights, please get in touch at https://meditechinsights.com/esg-reporting-market/