Source: Media Outreach
- Product enhancements enable regulatory compliance and environmental, social, and governance (ESG) leadership ahead of upcoming CSRD reporting requirements
- Development also includes improved renewable energy experience that highlights opportunities, automation, and information sharing
HONG KONG SAR – Media OutReach Newswire – 25 July 2024 – Schneider Electric, the global leader in the digital transformation of energy management and automation, is proud to announce major enhancements to EcoStruxure™ Resource Advisor, a versatile enterprise software suite of solutions designed to empower global companies across efficiency, ESG, energy and risk, and renewables and carbon. This strategic evolution from a platform of stand-alone solutions to an integrated and multifaceted suite addresses the rapidly maturing market and the increasing complexity of corporate sustainability needs. Much of this has been driven in the market by escalating stakeholder demands and stringent reporting requirements, including the European Union’s Corporate Sustainability Reporting Directive (CSRD) starting in 2025.
Recent research has highlighted a significant uptick in corporate sustainability programs, evident in increased resourcing in people, tools, and budget. Companies are increasingly challenged to streamline ESG reporting, implement sustainability initiatives, manage renewable energy projects, reduce carbon footprints, optimize energy procurement, and enhance operational efficiency through targeted energy-saving measures.
The enhanced Resource Advisor suite offers specialized solutions that cater to these diverse needs, providing users with flexibility and depth to navigate their unique sustainability paths. Clients can leverage these capabilities individually or collectively, depending on their specific enterprise sustainability goals.
Resource Advisor ESG Gets Extensive Upgrade in Time for CSRD Compliance
Equipped with these powerful new features, Resource Advisor ESG will modernize how companies manage and report on their ESG efforts. The most impactful upgrades include advancements like:
- Robust Indicator Framework Library: Comprehensive library of standard ESG indicators mapped to frameworks to align with global standards and upcoming regulations like CSRD and disclosures.
- AI-Driven Data Hub: Seamless connection with business-wide data through an advanced AI-driven hub, enhancing data integration and accuracy.
- Multi-Entity Data Management and Reporting: Agility in connecting physical asset data to legal entities, accommodating jurisdiction-specific reporting requirements with ease.
- Custom Visualizations and Dashboards: Valuable insights through bespoke visualizations and dashboards, facilitating optimal data interpretation and trend analysis on the ESG journey.
“As our clients and other global enterprise companies scale up their sustainability capabilities, we anticipate a growing need for precision technology and tools required to meet their evolving needs,” said Steve Wilhite, President, Schneider Electric Sustainability Business. “We’re excited about the targeted capabilities and emphasis on interoperability within Resource Advisor. The diverse set of stakeholders that often find themselves in energy, sustainability, or ESG projects – including legal, compliance, sustainability, procurement, operations, and technology teams – can solve even more of their pressing challenges with Resource Advisor.”
Resource Advisor Renewables & Carbon Introduces Intelligent Tracking and Allocation Functionality
Resource Advisor has long been a leader in helping corporations manage the spend and risk of traditional energy commodities such as electric power and natural gas. The energy transition is demanding companies prioritize renewable energy and environmental commodities like carbon offsets and energy attribute certificates. The need to manage these renewable energy and carbon purchases will only grow in importance as organizations commit to initiatives like RE100, SBTi, and CDP and must allocate purchases to different sites and different time periods.
Resource Advisor users are now able to improve their renewable energy experience, prioritize auditability and information sharing, and rely on an automated calculation of renewable energy coverage across their entire footprint. Additionally, users can quickly identify lagging assets or sites that have exceeded their goal and have a surplus of certificates available to either reallocate elsewhere or sell to generate revenue.
“This standard global reporting functionality will allow our clients to monitor their progress towards critical renewable energy goals such as pledges to consume 100% renewable energy by a specific date,” continued Steve Wilhite, President, Schneider Electric Sustainability Business.
A Comprehensive Solution for Corporate Sustainability
“These upgrades make us an integrated partner of choice for companies who must comply with regulations like CSRD, CA Climate Laws, and the proposed SEC regulation or those corporate leaders who simply recognize ESG performance as an escalating indicator of overall business health,” continued Wilhite.
“Resource Advisor sets itself apart in the market with its integrated approach, offering end-to-end functionality across ESG, sustainability, procurement, renewables & carbon, and efficiency management,” said Amy Cravens, Research Manager ESG Management and Reporting Technologies, IDC.
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