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SAP introduces a groundbreaking accounting system for emissions data to aid companies in managing sustainability business data effectively. The system aims to provide transparent and reliable data for measuring emissions, setting net-zero targets, and identifying areas for decarbonization impact.

NORTHAMPTON, MA / ACCESSWIRE / March 11, 2024 / SAP

By Judith Magyar

Originally published by Forbes

According to the UN Climate Finance Framework, private sector finance is the largest source of financial flows for climate action, particularly mitigation. But you can't mitigate what you can't measure.

To help companies manage sustainability business data from the bottom-up with actual data on a transactional level, SAP developed an accounting system for emissions data that is as auditable, transparent, and reliable as a system for measuring financial data. The data is vital to seeing holistically across the value chain to understand where emissions are occurring, setting accurate net-zero targets, and identifying specific areas for decarbonization impact.

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From left: MEA South SAP COO Johannes Dressler, Sophia Mendelsohn, SAP Chief Sustainability Officer, Shirish Bhide, CEO UAB, Ayman Al Qudsi, CIO UAB. SAP. Image courtesy of Forbes.

View additional multimedia and more ESG storytelling from SAP on 3blmedia.com.

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SOURCE: SAP

View the original press release on accesswire.com

What is SAP's new accounting system for?

SAP developed an accounting system for emissions data to help companies manage sustainability business data effectively.

What are the key benefits of SAP's accounting system?

The system aims to provide transparent and reliable data for measuring emissions, setting net-zero targets, and identifying areas for decarbonization impact.

Who are some key figures involved in this initiative at SAP?

Key figures involved in this initiative at SAP include MEA South SAP COO Johannes Dressler, SAP Chief Sustainability Officer Sophia Mendelsohn, CEO UAB Shirish Bhide, and CIO UAB Ayman Al Qudsi.

Where can I find more information about SAP's ESG initiatives?

You can find more information about SAP's ESG initiatives on 3blmedia.com.