With key ESG reporting regulations such as the EU Taxonomy and the Sustainable Finance Disclosure Regulation (SFDR) covering more than 75% of European companies across the EU and the U.K., the regulatory environment is evolving fast.
Non-financial data, such as carbon emissions, is catching up with financial reporting burdens. And it’s not just the Environmental (“E”), it’s also social factors (“S”) and corporate governance (“G”).
Now, Berlin-based Greentech startup Plan A, which recently raised a $10 million Series A round — has developed a new SaaS tool to cover this ESG reporting in an automated fashion.
It says its integrated module “automates measurement, analysis, and reporting of ESG performance, providing a central data management and reporting platform.”
This idea is that sustainability managers, also within VCs, can now peer into the ESG rating of their subsidiaries, portfolio companies and suppliers through the Plan A Platform, reducing reduces data collection and analysis efforts to less onerous levels.
Plan A recently closed its Series A financing round at the beginning of November, six months after its seed funding in March.
It plans to expand the decarbonization tooling and Scope 3 calculations for various industries.
The Berlin-based Greentech will also continue its international expansion, so that the current locations in Berlin, Paris and Munich will be followed by others in the coming year, including London.
Lubomila Jordanova, co-founder and CEO of Plan A, said:
Regulatory pressure is increasing. Investors, employees, and consumers are placing ever-growing importance on companies reporting their ESG impact and developing sustainable business models in line with their values. Our goal is to support them in this transformation process with innovative, digital tools.