Tuesday, December 5, 2023
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PwC and SAP Launch New Innovation Strategy

Key Highlights

  • PwC and SAP SE announced an innovation strategy to make sustainability an integral part of standard business operations.
  • The strategy is managed to create trusted solutions to address key environmental, social and corporate governance (ESG) business challenges.
  • It includes carbon measuring, reporting, steering, supply chain decarbonization, climate risk, and competitive analysis.

The new ESG innovation strategy strengthens the existing collaboration between PwC and SAP, which has successfully delivered business transformation solutions to clients in over 80 countries.

The innovation strategy covers co-innovated solutions created with PwC’s deep ESG and accounting expertise, intending to allow businesses to apply ESG metrics by their operations that are trustworthy, auditable, and verifiable.

The solutions support the SAP Cloud for Sustainable Enterprises solution, the SAP Sustainability Control Tower solution, and the SAP Product Footprint Management solution.

PwC and SAP can help organizations leverage the required solutions to fulfill compliance requirements and drive growth to support the ever-increasing expectations of customers and investors. They also help customers in shaping the future of their net zero strategies and sustainability reporting.

The strategy of PwC and SAP consists of solutions encompassing an enterprise-wide ESG strategy, ranging from trading optimization and tax credit recognition to third-party risk management and competitive analysis.

Three Challenge Areas

The three top challenge areas for ESG, net zero, and sustainability reporting will also be addressed:

  1. Reporting and disclosure help satisfy requirements to materially report and disclose investor-grade carbon measuring data to meet the demands of investors, lenders, regulators, and customers.
  2. It is operationalizing sustainability to support incorporating ESG measures, especially carbon issues, directly into business functions, such as trading, capitalization, and tax.
  3. Supply chain risk management, compliance, and monitoring extending support for ESG measures to cover the supplier impact on organizational performance.

Based on the SAP Business Technology Platform, solutions such as PwC Germany’s award-winning Climate Excellence tool have already demonstrated the strength of the alliance between the two organizations in bringing ESG innovation to market.

PwC and SAP are dedicated to assisting organizations in responding to the reporting and auditability requirements imposed by the European Financial Reporting Advisory Group (EFRAG) and the International Sustainability Standards Board (ISSB). They also reinforce companies in complying with a related ruling proposed by the US Securities and Exchange Commission (SEC).

Solutions given by PwC and SAP enable the real-time, data-driven environment customers need to operate and grow the sustainable enterprise of the future.

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