Enterprise application software company SAP and global content and technology company Thomson Reuters announced today a new product integration, combining Thomson Reuters’ reporting solution ONESOURCE Statutory Reporting and SAP’s ESG data platform Sustainability Control Tower to offer enterprises a unified ESG reporting solution.

Launched in 2021, SAP Sustainability Control Tower was designed as a central location for all sustainability data at enterprises, aimed at helping companies monitor and manage sustainability performance. The platform was recently updated to enable users to record and report on ESG data and set and monitor sustainability targets. Thomson Reuters ONESOURCE is a cloud-based global disclosure management tool aimed at helping companies to standardize and improve efficiency in meeting their reporting compliance obligations across multiple jurisdictions.

Gunther Rothermel, Chief Product Officer and co-General Manager for SAP Sustainability, said:

“The partnership with Thomson Reuters is part of SAP’s commitment to provide ERP-centric, cloud-based and AI-enabled sustainability solutions that meet the needs of businesses worldwide. The combination of SAP Sustainability Control Tower and Thomson Reuters ONESOURCE Statutory Reporting provides our customers with last-mile reporting functionality based on the SAP Sustainability Control Tower data foundation.”

According to the companies, the new product integration will help companies to address their “last mile” sustainability reporting requirements, helping them to comply with new regulations and standards including the EU’s Corporate Sustainability Reporting Directive (CSRD), the U.S. SEC’s new climate reporting rule and the International Sustainability Standards Board’s (ISSB) new standards.

Ray Grove, Head of Corporate Tax and Trade at Thomson Reuters, said:

“We are thrilled to be collaborating with SAP to reduce the complexity and burden of complying with emerging regulations. This integration represents a significant step forward in simplifying ESG reporting for global organizations, particularly in light of the upcoming CSRD requirements and other global ESG reporting requirements. Together, we are committed to helping businesses navigate the evolving regulatory landscape and achieving their sustainability goals.”