The effectiveness of a corporation may be evaluated using analysis techniques for environmental, social, and governance (ESG). That runs counter to its efforts in governance, social issues, and the environment.

The fact is that more businesses are offering ESG tools and research to assist clients in finding the solutions they're looking for due to the increased demand for sustainable investing solutions. Analyses of business sustainability increasingly rely on ESG instruments. The inclusion of them in annual reports by businesses is becoming customary.

In this article, the top tools, their features, and how well they deliver high-quality services will all be discussed.

1. ESGenius!

ESGenius! is a computerized platform, an all-in-one ESG management tool (SaaS) that assists users in setting baselines, creating KPIs, monitoring progress, and sharing practical ESG ratings with investors and other stakeholders in greater clarity.

While allowing customers to produce a Business Intelligence dashboard that can be instantly placed on their website to highlight their performance, ESGenius! gathers ESG data from official documents such as electricity bills, tax paperwork, etc., and uses AI in integrity checks to assure a high degree of transparency.

Key Features:

• AI/Machine Learning

• Assessment Management

• Benchmarking

• Compliance Management

• Compliance Tracking

• Conflict Minerals Management

• Customizable Dashboard

• Customizable Reports

Cost:

No price info

2. SustainIQ

SustainIQ is an all-in-one, user-friendly platform for sustainability and ESG reporting.

SustainIQ, a multi-award winning program, enables users to produce reports on various topics, including waste management, Scope 1, 2, and 3 GHG emissions, social value, supplier chain, workplace diversity, welfare, and more.

The efficiency of projects and businesses is increased by time savings of up to 34% on average, thanks to SustainIQ's ESG reporting software. Spend more time increasing revenue, cutting costs, and enhancing operational efficiency.

Through a single, comprehensive software solution, SustainIQ brings all the components together to make it easier to establish baselines, determine targets, and enhance your ESG performance.

One of the strongest and most comprehensive sustainability & ESG reporting tools, SustainIQ is trusted by more than 1,100 locations across 14 countries.

Key Features:

• Conflict Minerals Management

• Asbestos Management

• Air Emissions Management

• Inventory Management

• Purchase Order Management

• Key Performance Indicators

Cost:

No price info

3. Oracle Fusion Cloud EPM

Oracle Fusion Cloud Enterprise Performance Management (EPM) enables your mid-sized to enterprise-level business to analyze and plan across finance, HR, supply chain, and sales, expedite the financial closure process, and help you make smarter decisions.

Improve decision-making using scenario modeling and integrated, sophisticated analytics. You can act more quickly, thanks to data-driven insights provided by AI and machine learning.

Create projections and scenarios that automatically update when your bottom line changes by seamlessly connecting data throughout your business.

Numerous analysts routinely place Oracle EPM at the top, and thousands of clients benefit more from conducting their EPM operations in the cloud with Oracle.

Key Features:

• Financial Analysis

• Income & Balance Sheet

• Multiple Projects

• Profit/Loss Statement

• Receivables Ledger

• Compliance Management

Cost:

EPM Standard is $250 per user/per month

EPM Enterprise is $500 per user/per month

4. OneTrust

OneTrust is a whistleblower tool that assists HR, legal, and ethical departments in managing compliance, privacy, risks, and data governance through a single interface.

To handle information about consumer preferences and consent, administrators can scan websites and mobile applications. This allows them to categorize third-party trackers automatically. A governance, risk, and compliance (GRC) module from OneTrust enable teams to monitor and reduce supplier, outside party, and IT security concerns. Operators may also create policies, keep track of data breach occurrences, handle audits, and organize disaster recovery scenarios using the system.

Whistleblowers can anonymously disclose unethical occurrences with OneTrust, which also automates investigating processes to manage cases. The AI-driven data discovery & categorization feature may also be used by team leaders to view data asset information flow.

Key Features:

• IT Risk Management

• Risk Assessment

• Identity Verification

• Internal Controls Management

Cost:

No price info

5. Conservice ESG

Conservice ESG is one of the best platforms for managing ESGs is Goby the most sophisticated, complete, and user-friendly. It aids organizations in setting up, maintaining, and distributing ESG initiatives essential for retaining and attracting investors, promoting responsible and sustainable growth, and reducing enterprise risk.

With AI and RPA, Goby creates the digital twin of your portfolio or fund from millions of data points, enabling you to make smarter decisions. A comprehensive solution for sustainable and ethical growth is offered by Goby's hybrid platform of SaaS and strategic knowledge.

ESG is made simpler and more widely available because of Goby's user-friendly software. Business plans are reshaped, operational efficiency is increased, and performance is elevated with the support of Goby's cloud-based ESG platform and potent solutions.

Key Features:

• Greenhouse Gas Tracking

• Compliance Management

• Collaboration Tools

• Energy Price Analysis

• Reporting & Statistics

Cost:

No price info

6. AuditBoard

AuditBoard is the leading cloud-based platform for managing an audit, risk, and compliance. In order to advance their organizations with more clarity and agility, more than 35% of the Fortune 500 use AuditBoard.

AuditBoard, which has received the highest customer ratings on G2, Capterra, and Gartner Peer Insights, was recently named by Deloitte as one of the fastest-growing technology firms in North America for the third consecutive year.

Utilize a specially created solution to the most critical issues facing practitioners today to automate operations and enhance execution. A cooperative method for data gathering, control certification, risk analyses, and other tasks will bring teams and stakeholders together.

A connected risk platform that offers real-time visibility into emerging problems, risk trends, and important indicators can help you stay ahead of the curve in today's changing environment.

Key Features:

• Internal Controls Management

• Sustainability Management

• Policy Management

• Process/Workflow Automation

• Program Management

• Progress Tracking

• Reporting/Analytics

• Customizable Dashboard

Cost:

No price info

7. Cority

Cority provides enterprise businesses with a web-based solution for managing environmental sustainability, workplace health and safety, and regulatory compliance. Large businesses in sectors including utilities, mining, manufacturing, the automobile industry, healthcare, and government are the main target market for the product.

Users may integrate and consolidate data, standardize processes and workflows, guarantee regulatory compliance, detect risks, and measure performances with the help of the software.

On its Sungard data centers, Cority's EHS software offers centralized data management. Its relationship with Microsoft also offers the choice of hosting customer data on the Windows Azure cloud. The software supports compliance with several legal frameworks, including DOT Standards, OSHA, ADA, HIPAA, FMLA, and Safe Harbor.

Key Features:

• Complaint Management

• Air Emissions Management

• Hazardous Materials Management

• Industrial Safety Management

• Occupational Health Management

• Sarbanes-Oxley Compliance

• Workflow Management

Cost:

$50000.00/year

8. Wdesk

Wdesk is an enterprise-wide collaborative work management system that aids in collecting, linking, reporting, and analyzing business data with increased transparency and control. It is used by teams in the finance, accounting, audit, operations, and compliance departments. Through a variety of procedures and checks required for effective company data management and decision-making, the platform facilitates team collaboration.

Wdesk links the entire company to access the most important data in one place. The system collects, stores, and connects data from numerous sources, enabling changes to happen promptly and reliably. Users may connect and reuse data and stories throughout the enterprise by using the platform as a single truth source, ensuring data consistency.

Key Features:

• Approval Process Control

• Sarbanes-Oxley Compliance

• Scheduled / Automated Reports

• Receivables Ledger

• Journal Entry Processing

• Real-time Updates

Cost:

No price info

9. Goodworld

Goodworld is a sustainable development platform for businesses and charities. With tools designed for leading NGOs, you can start, manage, and assess your fundraising efforts. Designed to increase business connections. A social impact platform for businesses and organizations is called Goodworld.

This social impact platform involves consumers and staff with the issues that matter to them. Your employees may assist more than 1.7 million screened NGOs by contributing, volunteering, and earning impact rewards. These actions can be taken in favor of social justice, climate change, education, mental health, and other vital topics.

In terms of CSR and social impact software, Goodworld is a pioneer. Utilize this secure platform to enable your staff, clients, and communities to work together to create meaningful social change. Increase your revenue in a way that has an effect and that you can genuinely quantify.

Key Features:

• Fundraising Management

• Volunteer Management

• Registration Management

• Goal Setting / Tracking

• Emission Calculations

• For Nonprofits

Cost:

$99.00/month

10. Locus ESG & Sustainability

Locus ESG & Sustainability was created to assist companies in the agriculture, utility, industrial, pharma, and other sectors to improve data collection, implementation responsibility, and ecological, social, and managerial reporting processes. It allows businesses to monitor adherence to federal regulations and evaluate important performance metrics.

It has a facilities management module enables staff to gather and save information on real estate assets, facilities, and other assets in one place.

Users may access corporate documents in real time by integrating Locus ESG & Sustainability with LocusDocs, an internal document management system. Additionally, it enables administrators to set up operational procedures, define policies, construct facility service catalogs, and provide team members with role-based access.

Key Features:

• Corrective and Preventive Actions

• Stakeholder Engagement

• Audit Management

• Performance Metrics

Cost:

No price info

11. Optial SmartStart

Optial SmartStart is a modular, multi-module software platform for the administration of important company confidence processes, encompassing Enterprise-level EHS, compliance, and risk management plus audits and beyond. When identifying and storing risk data with attachments, the risk management module uses risk registers to connect risk records to important controls, loss events, etc.

Thanks to comprehensive multi-language, fully exportable risk reporting options, data may be seen via dashboards, graphical analysis, progress charts, tables, and more. Organizations may monitor internal controls for compliance with standards, increase action transparency, and manage business processes using Optial's following modules for compliance, assessment, and continuity planning.

Key Features:

• Internal Controls Management

• Sarbanes-Oxley Compliance

• Operational Risk Management

• Status Tracking

• Task Management

• Version Control

• Workflow Management

Cost:

No price info

12. Alyne

Alyne's GRC platform enables teams to readily comprehend complicated risk data, improve process efficiency, accelerate time-to-value, and make sound business choices. Customers may use NLP to read corporate policies and documents and Machine Learning to automate how they examine standards, laws, and regulations in the context of their control frameworks.

The Alyne solution from Mitratech makes it easier to handle complicated risk, regulatory, and compliance data by allowing assessments with established maturity levels to be conducted at scale, generating quick risk insights, and producing simple mitigation actions. With the help of built-in graph databases, it is possible to see how a company's resources are related and dependent on one another.

Key Features:

• Assessment Management

• Audit Management

• Audit Trail

• Benchmarking

• Business Process Control

• Policy Management

• Third-Party Integrations

Cost:

No price info

13. Metrio

Metrio, a Nasdaq-listed firm, is one of the market's top ESG tools. Since 2009, the firm's reporting workarounds have made it simpler for businesses like Air Canada, Clorox, Decathlon, and Target to gather, manage, and share information about their environmental, social, and governance (ESG) performance, enabling them to become more sustainable, open, and successful.

Metrio is a TCFD and UNGC supporter, a member of the SASB Alliance, and a CDP-accredited supplier. A straightforward data gathering and review procedure that provides job reminders to highlight odd variances and maintain an audit trail can help you collaborate with distant teams and suppliers more effectively.

Key Features:

• Disclosure Management

• Document Management

• Emission Calculations

• Emissions Management

• Stakeholder Engagement

• Sustainability Management

Cost:

No price info

Things to consider While Selecting ESG Tools

Management and reporting of ESG data

Any sustainable effort must start with data. It might be difficult to determine what data is crucial, where it is, and how to ensure that it is collected into a single repository, especially for big, international companies.

Effects and actions of ESG

Any ESG program must be measurable, but impact against promises is what distinguishes the leaders. Reputable, sustainable companies commit to measurable objectives and publicly track their progress.

ESG third-party risk management and the supply chain

A thorough ESG program considers risks from third parties, your supply chain and sustainability within your operations. A third-party sustainability risk management capability on an ESG platform may assist lower supplier risk and guarantee that your vendors follow your sustainability goals. Additionally, it increases precision, saves time, and lessens the effort needed to accomplish those goals.

Conclusion

The Environmental, Social, and Governance (ESG) tool is a business intelligence platform independent of industry and used to help organizations in all industries track and report their ESG performance. You may use new technologies daily to capture footprint data, develop reports, and guarantee compliance throughout a company because ESG analysis is still a relatively new software area. You can choose from any of the top ESG tools given above.

FAQs

What are ESG tools?

Environment, social, and governance (ESG) software is often made to assist with monitoring and reporting activities for managing the environment, human health, and social and legal issues. By enabling the aggregation of data from different businesses or portfolios for useful insights and simplified reporting, this software is often created to serve corporate executives.

What should you consider while using ESG tools?

• The program needs to speed up and streamline your reporting procedure.

• Your needs should be completely met by the platform.

• Data from many regions have to be consolidated by the platform.

• Users from all parts of your company should be supported by the platform.

• Not simply additional data but also actionable insights should be provided by the program.

How are ESG data used by businesses?

ESG data is used by businesses to develop their ESG strategy, measure target progress, evaluate performance and effect, and spot risks and opportunities. Companies may demonstrate their beliefs, motivations, and dedication to environmental, social, and economic values by collecting and sharing ESG data.

What are ESG standards most frequently used?

Three of the most important ESG standards and procedures are the Global Reporting Initiative Standards, Task Force on Climate-related Financial Disclosures, and SASB Standards.

Which measures are employed in ESG?

Whenever people discuss ESG metrics, they truly mean performance metrics or indications of how well a firm is doing in relation to environmental, social, and governance concerns. In that they are employed to evaluate a company's operational performance and risk, they are comparable to other business indicators.