As more companies are required to disclose the results of their taxonomy assessment every year, Factlines launches a digital tool to lessen the burden.
“Forget the old spreadsheets! We provide a digital solution set to reshape and simplify the intricate world of taxonomy reporting. Our software enables organizations to autonomously manage the specificities of their assessments and reduce reliance on external consultants,” says Siri Engesæth, CEO of Factlines.
Taxonomy reporting can be a daunting challenge for companies of all sizes. The complexity involved, the need for centralized documentation, and the intricate involvement of various stakeholders make it a formidable task.
Factlines' software eases the immediate reporting load while building value year after year. From day one, it begins documenting your work, minimizing reliance on cumbersome spreadsheets, and simplifying the entire process. Users can effortlessly access prior records and documents in subsequent assessment years to enhance accuracy and streamline efficiency.
Market transparency
The EU taxonomy is a cornerstone of the EU's sustainable finance framework and an important market transparency tool. It helps direct investments to the economic activities most needed for the transition to decarbonization, in line with the European Green Deal objectives. The EU Taxonomy is a classification system that puts forward environmental and social criteria for economic activities that are aligned with a net zero trajectory by 2050 and the broader environmental goals other than climate.
Building on its strong track-record within sustainability, Factlines has expanded its ESG offering following the establishment of a dedicated taxonomy team. Factlines software enables informed decision-making, foster collaboration among companies committed to a better future, and simplify the sustainable transition.
The software runs seamlessly on the same platform as the company's flagship product, the Sustainable Supplier Network. Existing Factlines customers, who are already assessing their suppliers' potential risks, can now integrate their Taxonomy Reporting software with a separate license.
If you have any questions or want to learn more about how Factlines can help you with the EU Taxonomy, please click the button at the bottom of this interview.
Going digital
Arendals Fossekompani and its portfolio companies are customers on the new software. Arendals Fossekompani’s ESG team has provided valuable input to the content and design of the solution.
“We are pleased to work together with Factlines on the development of this new tool. It will simplify our reporting process, which has been complex and time-consuming,” says Ingunn Ettestøl, Chief Sustainability Officer at Arendals Fossekompani.
Following its voluntary taxonomy reporting for 2022, Arendals Fossekompani prepares for the compulsory reporting for 2023.
“Going digital is a huge step forward. We have implemented Factlines software for transparency in our supply chain. Digitizing our taxonomy reporting, is another step in the right direction,” says Ettestøl.
