Enterprise software company IFS and professional services provider PwC UK announced today a new collaboration to launch a new Sustainability Management Solution on the IFS Cloud platform aimed at supporting companies in meeting sustainability disclosure requirements, including the EU’s new CSRD regulation, and embedding sustainable practices into their business operations.

Under the new collaboration, IFS will develop a Sustainability Management module within IFS Cloud, while PwC will assist in the design and build, contributing expertise in ESG criteria and the regulatory landscape. Additionally, IFS Cloud customers will be able to enlist PwC services for guidance on sustainability reporting issues and tasks, such as conducting double materiality assessments and preparing for CSRD readiness.

Carl Sizer, PwC UK Management Board Member and ESG Sponsor, said:

“We’re thrilled to collaborate with IFS in developing the Sustainability Management module within IFS Cloud. Our expertise in ESG criteria and knowledge of the regulatory landscape will enable us to provide valuable guidance and support in designing a solution that empowers organisations to effectively manage their sustainability initiatives and navigate the evolving regulatory landscape.”

According to IFS, the new solution will help customers navigate the new CSRD requirements, as well as other emerging mainstream global regulatory standards, with key features including out-of-the-box CSRD metrics, data mapping, approval workflows, target setting, and insights, as well as a library of KPIs, including quantitative metrics with calculation logic, supported by PwC ESG experts. Alongside the new module, PwC UK will provide services for companies to be compliant for their first CSRD reporting cycle in 2025.

The first version of the new module is currently under development, and anticipated to be released in late November.

Mark Moffat, IFS CEO said:

“This strategic coalition between IFS and PwC is not just a technological advantage; it is a commitment to shaping a sustainable and transparent ecosystem. By equipping customers with the necessary tools and data, we are together enabling decisive sustainability action and ensuring we maintain the highest standards in sustainability disclosures.”