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ISS Strengthens Sustainability Footprint with Strategic Celsia Acquisition

Screenshot of Celsia’s user interface, showcasing tools for sustainability reporting and materiality assessment.

In a strategic move that underscores its commitment to enhancing sustainability reporting, ISS-Corporate, a prominent player in compensation, governance, and risk monitoring, has acquired Celsia, a pioneer in SaaS solutions aimed at simplifying sustainability reporting for corporations.


This acquisition comes at a pivotal time as businesses worldwide adjust to the rigorous demands of new sustainability reporting standards.



ISS's Commitment to Sustainability Expands with Celsia Acquisition


Celsia, founded in 2021 and based in Oslo, has emerged as a key facilitator for companies grappling with the European Union’s Corporate Sustainability Reporting Directive (CSRD). As the CSRD regulations have begun to take effect from January 2024, the demand for competent and efficient reporting solutions like those Celsia provides has surged.


The integration of Celsia’s technology into ISS’s sustainability services is expected to provide significant advantages.


Notably, ISS-Corporate can now offer more comprehensive services that cover the extensive requirements of the CSRD, including EU Taxonomy compliance and the Sustainable Finance Disclosure Regulation (SFDR).


These regulations are instrumental for companies operating in or with the EU, necessitating transparent disclosure of sustainability impacts and risks.



Enhancing Reporting Efficiency and Compliance


Celsia’s software is renowned for its ability to streamline the complex process of sustainability reporting. The tool significantly reduces the time involved in reporting—by up to 80 percent according to some user testimonials.


This efficiency is critical as the CSRD estimates annual reporting costs for companies could reach €320,000. By 2027, when the directive will apply to over 50,000 companies within the EU and EEA, the total reporting costs are projected to soar to approximately €9.9 billion.



The Strategic Advantage in the ISS-Corporate Portfolio


Marija Kramer, Head of ISS-Corporate, highlighted the acquisition's strategic importance, noting that it positions ISS to address the rapidly evolving regulatory landscape effectively.


The Celsia team, under the continued leadership of CEO and Co-Founder Petter Reistad, will remain integral to the development and implementation of their solutions within the ISS framework.



Customer-Centric Solutions for Sustainable Practices


Petter Reistad expressed enthusiasm about the merger, emphasizing the enhanced capability to support more clients in their sustainability initiatives while maintaining high standards of reporting quality.


Clients of ISS-Corporate and Celsia are poised to benefit from a suite of integrated solutions that address a broad spectrum of sustainability and regulatory challenges.



Sustainability Reporting: ISS-Corporate and Celsia Pave the Way


The acquisition of Celsia by ISS-Corporate is a testament to the growing importance of sustainability in corporate governance and the increasing demand for specialized software to manage complex reporting requirements.


As companies worldwide strive to meet stricter standards, partnerships like this are likely to become more crucial in providing the necessary tools and expertise. ISS’s expansion into sustainability reporting software through the Celsia acquisition not only broadens its service offerings but also reinforces its position as a leader in fostering corporate accountability and sustainable development.


This merger marks a significant milestone in the field of corporate sustainability, as it enables ISS-Corporate to deliver cutting-edge, efficient solutions to meet the growing global demand for transparent and reliable sustainability reporting.


For a deeper understanding of Celsia's capabilities, explore further here.


 

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