ServiceNow has long been a leader in service operations, and the company has now unveiled its plans to tap into the environmental goals of its users.
ServiceNow has announced a new integrated environmental, social, and governance (ESG) solution that combines the power of ServiceNow’s platform, with new and existing products as well as partner ecosystems, to help companies workflow a better world.
The technology helps companies reach their ESG goals through three features. First, ServiceNow has introduced an ESG Management and reporting feature that lets companies establish goals, track performance, validate audit-ready data as well as create disclosures that align with major ESG reporting frameworks.
Second, ServiceNow’s project and portfolio management tool enables companies to build a roadmap and track the cost of their ESG efforts, while seeing the progress made by investments.
Finally, ServiceNow’s integrated risk management gives governance capabilities, advanced risk assessment, and continuous monitoring alongside the new ESG functions. This has been done to give a real-time view of compliance and improve decision-making.
ServiceNow is also enabling third parties and customers to create specialized ESG workflows that serve the unique requirements of various industries and geographies, address specific material issues, and extend ESG initiatives beyond the enterprise to the supply chain.
The importance of ESG
A study conducted by Edelman found that 82% of US investors believe that companies are not prepared to comply with ESG reporting regulations. With its growing significance alongside mandatory regulation, investors are increasingly considering the environmental initiatives of companies.
Speaking about the ESG offering, Gina Mastantuono, ServiceNow Chief Financial Officer, said: “ESG is a top issue for the C-suite today. Leaders need better ways to plan, manage, govern, and report on their companies’ investments toward a more sustainable, equitable, and ethical world.
“ServiceNow is well-suited as the strategic ESG platform partner for business, ultimately helping leaders gain operational control over their growing number of ESG initiatives to drive positive, lasting change globally.”
Taylor Francis, the co-founder at Watershed, a consultancy designed to help companies reach zero net emissions, noted the value of this software capability: “We have been working closely with ServiceNow as they set their sights on achieving net-zero carbon across the entire value chain by 2030.
“Now, with our partnership with ServiceNow and integration with ESG Management and Reporting, we will be able to help others follow a similar path. It’s time to move from talk to action.
“We’re working together to help companies go beyond measuring their carbon graph to actually bending it to zero.”