Workday expands its global ESG solutions portfolio

Workday has expanded its global ESG solutions portfolio with new offerings to help further drive social and sustainability initiatives.

Social reporting for ESG and supplier risk and sustainability are two significant solutions that will help enhance the current portfolio, helping further promote the existing diversity of solutions, sustainable sourcing and compliance training initiatives.

There is also a significant focus on audit and internal controls features and planning and analysis of ESG data.

The new solutions come as changes occur worldwide to the way organisations adapt to regulatory pressure, as well as growing interest and demand from investors and other stakeholders for businesses to adopt sustainability strategies and best practices.

Workday says customers will be able to gain visibility and insight into data that is critical when meeting current and developing ESG requirements. They say flexibility and truth in worker and supplier data are crucial to helping a business operate efficiently.

Helping to promote sustainable outcomes, the Workday supplier risk and sustainability solution will also help customers improve the sustainability and resilience of their supply chains and enable them to assess Scope 3 emissions. This will help them find emissions that are generally not considered at the "base" of work operations, so they can further look at better sustainable outcomes.

Streamlined Workforce Reporting will help measure ESG, tracking progress against goals and identifying areas for improvement. A consolidated dashboard will be utilised for customer ease of use.

Additional data from Workday People Analytics (including VIBE Index), Workday Peakon Employee Voice and Workday Learning will further help promote the social components of ESG and allow more customer opportunities.

One New Zealand company is also helping pave the way for new developments. Built on Workday Adaptive Planning, the Accelerate2zero solution was created by Kiwi company Deloitte NZ. The Accelerate2zero solution lets organisations capture all three emission scopes, helping them undertake a cost-benefit analysis of emission abatement options and allowing for better sustainable planning. Public Trust NZ is using the solution in their operations.

Workday chief strategy officer Pete Schlampp says Workday is committed to helping businesses achieve their goals with a hands-on approach.

"As we look to create a more sustainable future, Workday is committed to being a proactive partner, driving continued innovation to help customers advance their ESG initiatives," he says.

"We're not only meeting customers where they are today, but, through our own investments and openness, we're extending the value we bring to customers through our ecosystem to help them get to where they need to be in the future."