Has an antidote to greenwashing by businesses been found?
Miagen has revealed plans to invest €1.8m in its GreenGen platform, which it claims will be an essential tool in helping businesses to streamline compliance with the Corporate Sustainability Reporting Directive (CSRD).
The company’s flagship product GreenGen, which is available to businesses now, is the result of two years of research and development and the investment is the culmination of this research, along with technology, training and new hires.
“It greatly simplifies reporting and it will give them insights that they, until now, have never had – or even knew were possible”
Initially targeting Europe’s largest enterprises, the CSRD is a landmark new EU-wide regulation that aims to improve sustainability transparency, while also providing the EU with greater insights into key sustainability and environmental issues.
Complying with CSRD essential to staying on the supply chain
Helping businesses to ensure they are compliant with the new regulations, along with other ESG reporting frameworks, GreenGen provides an interactive reporting hub that vastly reduces the time and costs required for these labour-intensive processes.
The hub manages the collation of data from businesses’ value chains and provides live, streamlined data for producing reports. For ease of use, it uses customised APIs, while providing AI-driven guidance on the 1,200+ data points required for the CSRD. In addition, its audit and assurance capabilities ensure integrity of numbers, thus eliminating growing fears among corporations of greenwashing.
Beyond compliance, by supporting scenario planning and prescriptive planning, GreenGen enables businesses to make informed decisions that prioritise ESG, making it an essential tool for scaling businesses with a sustainability focus. The platform will help enterprises to gain greater insights into their carbon footprints and therefore take vital strides in becoming greener businesses.
“Environmental integrity is one of the greatest assets a business can have right now. In addition, the increasing complexity of ESG reporting – intensified by the introduction of the CSRD – means that businesses must get to grips with their data,” said Teddy Murphy, CEO of Miagen.
“GreenGen will be a game-changer for organisations as they navigate these complex issues as it greatly simplifies reporting and it will give them insights that they, until now, have never had – or even knew were possible.
For more than 20 years, Miagen has helped enterprises to plan more than €100bn in revenues through decision-making based on its financial and enterprise planning models.
By positioning GreenGen as the leading solution for CSRD compliance, Miagen expects it to enable revenue and employee growth for the company, which currently employs 15 people in its Dublin office. Miagen also anticipates the Europe-wide relevance of GreenGen to support its entry into new markets and industries.
“The launch of GreenGen is a natural next step for Miagen, as it relies on the same technologies and expertise that have earned us our global reputation for intelligent enterprise planning,” Murphy explained.
“Now, we are delivering technology that goes beyond meeting business needs and regulatory requirements; we are driving positive societal impact. What gets measured, gets managed and we are confident that GreenGen is the tool businesses need to crystallise their data into action.”
Main image at top: Teddy Murphy, founder and CEO; Ciara Hogan, Commercial Director; and Brian Byrne, COO, Miagen
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