Deloitte develops carbon emissions reporting tool for Workday
ERP firm Workday has announced a suite of new ESG tools, including a decarbonisation reporting solution co-developed with Deloitte.
The New Zealand practice of Deloitte has collaborated with US enterprise resource planning firm Workday to launch a new ESG tool to support organisations with managing their carbon emissions reduction strategies.
The solution, dubbed Accelerate2zero, allows organisations to capture their Scope 1 through 3 emissions data and provides for dynamic emissions budget management through cost benefit analysis of abatement options.
“Deloitte built Accelerate2zero to help clients navigate the road to carbon neutrality with scenario planning and model pathways,” said Jennifer Steinmann, Deloitte’s global climate & sustainability practice leader. “The collaborative functionality in Workday Adaptive Planning meant Deloitte was able to link climate-reduction strategies to financials and provide clients with a more complete picture of their carbon emissions progress and forecasts.”
Melbourne-based Deloitte Australia partner Kurt Proctor-Parker – who leads Deloitte’s HR Technology practice nationally – told industry publication CRN that Accelerate2zero would help shield organisations from carbon price exposure and enhance operational efficiency, and was developed with flexibility, scalability and rapid deployment in mind. It also sets up budgets on monthly, quarterly or an annual basis.
“Sitting across the organisation’s financials, Accelerate2zero provides clear oversight over the impact of emissions strategy on financial performance. Accelerate2zero generates reports that can be included in executive management, board, investor and annual reports,” Proctor-Parker stated, adding that it could be employed as a stand-alone solution or fully integrated into financial processes for a holistic approach to managing emissions.
The solution has already seen Deloitte pick up 2022 Workday Partner Innovation award in the Government category, and has been released by the professional services firm for use in countries which have calculated their emission factors and have made them publicly available. The impetus for its development, said Proctor-Parker, was the New Zealand government’s moves to decarbonise the economy over the next few years.
“Besides New Zealand, multiple jurisdictions are introducing climate disclosure mandates,” Proctor-Parker concluded, with there being increasing ESG pressure in Australia, not just on companies, but on regulators to beef up enforcement. “The immediate compliance requirement is placing private and public entities under significant pressure to measure and manage their emissions inventories to achieve net carbon neutrality.”
