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Institutional Shareholder Services’ (ISS) announced today the acquisition by its governance, compensation, sustainability, and cyber […]]
ISS Acquires Sustainability Reporting Software Startup Celsia – ESG Today
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ISS Acquires Sustainability Reporting Software Startup Celsia
Susan Lahey
April 11, 2024
Institutional Shareholder Services’ (ISS) announced today the acquisition by its governance, compensation, sustainability, and cyber risk business ISS-Corporate of corporate sustainability reporting software solutions provider Celsia.
Founded in 2021, Oslo-based Celsia offers solutions aimed at simplifying regulatory sustainability reporting, with a particular focus on the EU’s Corporate Sustainability Reporting Directive (CSRD) regulations. The CSRD, which began applying to some companies as of the beginning of 2024, will significantly expand the number of companies required to provide sustainability disclosures to over 50,000 from around 12,000 currently, and introduce more detailed reporting requirements, based on newly developed European Sustainability Reporting Standards (ESRS), covering company impacts on the environment, human rights and social standards and sustainability-related risk. Over time, the CSRD will also apply to many large non-EU based businesses that operate in the EU.
Celsia software also supports reporting requirements for the EU Taxonomy, the EU’s classification system enabling the categorization of economic activities that play key roles in contributing to environmental objectives, and the Sustainable Finance Disclosure Regulation (SFDR) , the EU’s regulation for investors and advisers requiring transparency regarding the integration of sustainability risks and the consideration of adverse sustainability impacts in their processes and products.
Marija Kramer, Head of ISS-Corporate said:
“As corporations across the globe seek cutting-edge solutions and services in response to a rapidly shifting regulatory landscape, ISS-Corporate is pleased to respond to those demands through this transaction. We welcome the Celsia team to the ISS-Corporate family and look forward to continue providing our clients with industry leading solutions spanning sustainability, governance, compensation, and cyber risk.”
Celsia staff will remain in place and continue to report to Celsia’s CEO & Co-Founder, Petter Reistad.
Reistad said:
“We are excited for Celsia to join ISS-Corporate. Together we will help many more clients free up time to implement sustainability initiatives, while still doing high-quality reporting.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
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