Dive Brief:
- Datamaran, a corporate risk and governance software platform, launched a “core product” Wednesday, designed for companies to identify, manage and disclose relevant ESG issues, risks and opportunities, according to a company press release.
- The product will use artificial intelligence to help companies conduct materiality assessments, support ongoing compliance work and monitor for key regulatory shifts and trends, as well as peer benchmarking, the June 18 release said.
- Datamaran said its core product will work to support corporate sustainability, legal and risk management teams with insights and help them manage “regulatory alignment on topics such as climate change, resource use, consumers & end users and business conduct.”
Dive Insight:
The ESG compliance tool comes at a time when federal ESG and climate regulations in the U.S. are facing the chopping block, but both state and international jurisdictions maintain climate-risk disclosure laws that either are or will soon come into effect. Datatmaran said the tools will enhance reporting workflows by using AI to reduce manual effort, and the product supports compliance with multiple disclosure frameworks.
Datamaran CEO Marjella Lecourt-Alma said in the release that the new product will give companies “the insights ready to move from compliance burden to strategic advantage” and “the capabilities they need to confidently run repeatable, audit-ready assessments while remaining agile in the face of shifting requirements.”
The new offering joins Datamaran’s suite of products that also includes a tool to conduct double materiality assessments — DMA Evaluate — which was launched in April. This tool, which is included as a part of the core product as well, will allow clients to both assess how climate impacts their business, as well as its business impacts on a broader range of stakeholders, as required by the European Union’s Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards.
Clients who use the core product will also gain access to Datamaran’s ESG experts and member-only events as part of the software company’s community for sustainability professionals, Harbor+. The community will also gain access to exclusive research and insights from Datamaran, according to the release.
Datamaran is among a growing number of companies using artificial intelligence to aid and augment corporate sustainability reporting capabilities. Reporting remains a popular use case for AI from a climate and ESG standpoint, as companies and CSOs look for the best ways to use AI for sustainability.
