IFS, the main know-how agency centered on cloud and industrial AI software program, is collaborating with skilled companies agency PwC, to convey a brand new Sustainability Administration Answer to market.
The initiative will see IFS develop a Sustainability Administration module inside IFS Cloud, whereas PwC will contribute its experience in Environmental, Social, and Governance (ESG) standards, in addition to the monetary regulatory panorama to help within the design and construct.
The Sustainability Administration Answer will look to assist compliance with sustainability disclosure necessities and embedding sustainable practices into enterprise operations, together with for multi-national organisations.
As soon as accomplished, the answer will assist IFS clients navigate the brand new necessities of the Company Sustainability Reporting Directive (CSRD) and different rising mainstream international regulatory requirements that our clients are dealing with.
Mark Moffat, CEO of IFS, commented: “This strategic coalition between IFS and PwC is not only a technological benefit; it’s a dedication to shaping a sustainable and clear ecosystem.
“By equipping clients with the mandatory instruments and knowledge, we’re collectively enabling decisive sustainability motion and guaranteeing we keep the best requirements in sustainability disclosures.”
To make sure a seamless journey from begin to end, clients utilizing IFS Cloud can enlist the companies of PwC to information on the big selection of points dealing with our clients in relation to this important facet of governance, together with necessary strategic ESG duties like conducting a double materiality evaluation and providing steering for CSRD readiness.
Empowering organisations to handle sustainability initiatives
The sustainability module will supply out-of-the-box CSRD metrics, choose IFS Cloud knowledge mapping, approval workflows, goal setting, and insights.
It can additionally ship a library of KPIs, together with quantitative metrics with calculation logic, all supported by PwC’s ESG consultants to make sure credibility. The software is designed to assist clients as they navigate the sustainability disclosure panorama, whereas serving to them stay centered on delivering actual enterprise worth by means of figuring out alternatives to transition to extra sustainable and productive methods of working.
Carl Sizer, UK administration board member and ESG Sponsor at PwC, additionally mentioned the transfer: “Our experience in ESG standards and data of the regulatory panorama will allow us to supply priceless steering and assist in designing an answer that empowers organisations to successfully handle their sustainability initiatives and navigate the evolving regulatory panorama.”
The primary model of the Sustainability Administration Module will launch on the finish of November. Alongside the IFS Cloud Sustainability Administration module, PwC UK will present the required companies to assist firms guarantee compliance for his or her first CSRD reporting cycle in 2025.
