Environmental, health, and safety (EHS) software company Cority has acquired Greenstone, which has a range of sustainability platforms for businesses and supply chains.
United Kingdom-based Greenstone began as a carbon accounting software business in 2006 and has grown to offer software-as-a-service systems as well as environment, social, and governance reporting tools that can track activity across a company’s entire operations, including with suppliers and investors. The company facilitates the gathering, analyzing, and sharing of sustainability data through guided workflows, questionnaires, data collection systems, and emission and framework libraries.
It is the third sustainability-focused acquisition for Cority in the past two years, including WeSustain and Reporting 21. Cority’s moves come as pressure continues to grow from investors, shareholders, and regulators to prioritize sustainability efforts, the company said. Cority said the Greenstone acquisition improves its ESG and sustainability services but also will help it expand other offerings.
Executives are increasingly looking to improve their ESG and sustainability strategies, and a recent survey from Deloitte found most are looking to shift from making commitments in those areas to being more proactive. Big areas of the ESG focus are reporting and disclosures.
The Greenstone platforms will be incorporated into Cority’s Sustainability Cloud, which helps businesses with managing, reporting on, and acting on their sustainability initiatives. The Sustainability Cloud aggregates datasets from throughout an organization, which are fed into a central location to provide accurate insights into EHS and sustainability performance.
Cority has been active in acquisitions and integrating those new offerings into its platforms and services. In October 2022 it said it had upgraded its waste management platform, improving tracking and reporting capabilities, following its acquisition of Enviance. More businesses, such as water management company Aqualia are also using platforms to merge EHS and ESG capabilities.
“Reporting frameworks, market maturity, and complexity of operational impacts vary dramatically across geo-regions, industries, and company size,” said Ted Kail, chief product officer for Cority. “We want to be able to meet our customers wherever they are; whether that is at the beginning of their sustainability journey with simple reporting needs, or extremely complex GHG (Greenhouse Gas) calculations for organizations that have been monitoring their global footprint for decades. The acquisition of Greenstone will enable us to better support customers across this broad spectrum, building upon our existing set of robust sustainability and ESG reporting solutions and expertise.”
Greenstone has more than 75 customers in 106 countries across 15 industries. Terms of the deal were not announced.