PORTLAND, Ore., October 29, 2020 – NAVEX®, the leader in integrated risk and compliance management solutions, today announced it has acquired the assets of CSRware, a pioneer in the Environmental, Social and Governance (ESG) software market.
Driven by escalating societal expectations on businesses and other organizations, ESG has grown in importance to investors and company boards alike. There is increasing recognition of ESG and its potential to impact share price, access to capital, corporate reputation, employee engagement and turnover. Data shows companies that prioritize ESG performance fare better in the stock market. According to S&P Global Market Intelligence, 14 out of 17 ESG-focused ETFs and funds outperformed the S&P 500 from January 1 to May 15 of this year. And according to Morningstar, $21.4B flowed into sustainable investment funds in 2019 – an increase of 292% from the year prior.
For these reasons, ESG data reporting is a burgeoning market. The need is clear: businesses must overcome the burdens of manually gathering, quantifying, tracking and reporting on metrics associated with ESG commitments.
CSRware’s SaaS-based solution lifts that burden by helping corporations aggregate, calculate and report on customizable sets of ESG metrics. The CSRware platform supports environmental sustainability, responsible sourcing and conflict mineral management—a key solution required by publicly traded companies. The platform has been adopted by large technology, retail and consumer enterprises, as well as intergovernmental organizations.
“Driven by societal expectations, ESG is becoming a priority for corporate executives, boards and investors,” said Bob Conlin, president and CEO of NAVEX. “Organizations that invest in ESG initiatives and measurement enjoy stronger business performance and less risk. We are pleased to be able to offer this valuable ESG reporting solution to our global customer base.”
“We are very pleased to be joining NAVEX and to add our ESG solutions and thought leadership to their integrated risk and compliance capabilities,” said Karen Alonardo, founder and CEO of CSRware. “Risk and compliance management is becoming a strategic differentiator for many forward-thinking organizations, and the inclusion of ESG reporting is now considered a necessary part of any comprehensive solution.”
CSRware’s management team will join NAVEX and Ms. Alonardo will assume the role of vice president of ESG Solutions.
CSRware’s offering has been rebranded as NAVEX ESG and is available now.
NAVEX is the worldwide leader in integrated risk and compliance management software and services that help organizations manage risk, address complex regulatory compliance requirements and foster an ethical, highly productive workplace culture.
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