SAP's Green Ledger: Pioneering Software for Corporate Sustainability

SAP's Chief Financial Officer, Dominik Asam, highlights an increasing demand for software that supports corporate sustainability efforts globally. Despite the U.S. scaling back on climate targets, SAP's Green Ledger software aims to make sustainability reporting as robust as financial reporting, aligning with upcoming European directives.

SAP's Chief Financial Officer, Dominik Asam, has noted a rising global need for software that aids in corporate sustainability, despite a downtick in climate initiatives within the United States. This observation comes ahead of the U.S.'s planned withdrawal from the Paris climate agreement in 2026.

Asam emphasises that sustainability remains a top agenda item for investors, mentioning discussions at the World Economic Forum in Davos that reflect optimism beyond recent political changes in the U.S. Investors, he notes, seek reliable data and analytical tools to support their decisions in this realm.

In line with this demand, SAP is developing its Green Ledger software aimed at making sustainability reports as credible as financial statements. This aligns with the forthcoming European Corporate Sustainability Reporting Directive. Although currently adopted mainly by SAP and chemical giant Covestro, the company expects increased uptake later this year.

(With inputs from agencies.)