LONDON (April 11, 2024) – ISS-Corporate, a leading provider of compensation, governance, cyber risk monitoring, and sustainability offerings to help companies improve shareholder value and reduce risk, today announced the acquisition of Celsia, an Oslo-based provider of SaaS solutions for corporate sustainability reporting.
Formed in 2021, Celsia’s software simplifies regulatory sustainability reporting with a particular focus on solving for the European Union’s Corporate Sustainability Reporting Directive (CSRD) regulations. The CSRD, which took effect January 1, includes the European Sustainability Reporting Standards, an extensive, detailed new sustainability reporting framework that is addressed by Celsia’s offering. Celsia software also supports EU Taxonomy and Sustainable Finance Disclosure Regulation reporting requirements.
Presently, more than 300 companies rely on Celsia’s software solutions and the expertise of its staff for accurate and timely sustainability reporting. Some companies using Celsia see time savings of up to 80 percent, as compared with conventional approaches to reporting, in a process estimated by the EU to cost companies €320,000 per year. By the middle of 2027, when approximately 50,000 EU/European Economic Area companies must implement CSRD requirements, aggregate reporting costs are projected to be €9.9 billion of which 10 percent is expected to flow to SaaS providers.
“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,” said Marija Kramer, Head of ISS-Corporate. “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 workflows automate CSRD reporting, allowing for all relevant data and documentation to be maintained in a single location. Its team of sustainability, technology, and related domain experts provide clients with gap analysis, double materiality assessments, and software updates to support the entire process from data collection to a ready report. Celsia staff will remain in place and continue to report to Celsia’s CEO & Co-Founder, Petter Reistad.
“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,” said Reistad. “Our clients are the true winners in this transaction. They will get access to a menu of complementary solutions, solving their full range of challenges within sustainability and regulatory reporting.”
To learn more about Celsia, please click here.
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About ISS-Corporate
Companies turn to ISS Corporate Solutions, Inc. (“ISS-Corporate”) for expertise in designing and managing governance, compensation, sustainability, and cyber risk programs that align with company goals, reduce risk, and manage the needs of a diverse shareholder base by delivering data, tools, and advisory services. ISS-Corporate’s global client base extends across North America, Europe, and Asia, as well as other established and emerging markets worldwide. ISS-Corporate is a wholly owned subsidiary of Institutional Shareholder Services Inc. (“ISS”). ISS-Corporate provides advisory services, analytical tools and publications to companies to enable them to improve shareholder value and reduce risk through the adoption of improved corporate governance practices. The ISS research teams, which are separate from ISS-Corporate, will not give preferential treatment to, and are under no obligation to support, any proxy proposal of a corporate issuer nor provide a favorable rating, assessment, and/or any other favorable results to a corporate issuer (whether or not that corporate issuer has purchased products or services from ISS-Corporate). No statement from an employee of ISS-Corporate should be construed as a guarantee that ISS will recommend that its clients vote in favor of any particular proxy proposal or provide a favorable rating, assessment or other favorable result. For more information, please visit https://www.iss-corporate.com/.
About ISS STOXX
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,400 professionals operating across 33 global locations in 19 countries. Its approximately 6,400 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.
Media Contact:
Subodh Mishra
Global Head of Communications, ISS STOXX
media@iss-corporate.com
ISS-Corporate Acquires Sustainability Reporting Software Provider, Celsia
LONDON (April 11, 2024) – ISS-Corporate, a leading provider of compensation, governance, cyber risk monitoring, and sustainability offerings to help companies improve shareholder value and reduce risk, today announced the acquisition of Celsia, an Oslo-based provider of SaaS solutions for corporate sustainability reporting.
Formed in 2021, Celsia’s software simplifies regulatory sustainability reporting with a particular focus on solving for the European Union’s Corporate Sustainability Reporting Directive (CSRD) regulations. The CSRD, which took effect January 1, includes the European Sustainability Reporting Standards, an extensive, detailed new sustainability reporting framework that is addressed by Celsia’s offering. Celsia software also supports EU Taxonomy and Sustainable Finance Disclosure Regulation reporting requirements.
Presently, more than 300 companies rely on Celsia’s software solutions and the expertise of its staff for accurate and timely sustainability reporting. Some companies using Celsia see time savings of up to 80 percent, as compared with conventional approaches to reporting, in a process estimated by the EU to cost companies €320,000 per year. By the middle of 2027, when approximately 50,000 EU/European Economic Area companies must implement CSRD requirements, aggregate reporting costs are projected to be €9.9 billion of which 10 percent is expected to flow to SaaS providers.
“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,” said Marija Kramer, Head of ISS-Corporate. “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 workflows automate CSRD reporting, allowing for all relevant data and documentation to be maintained in a single location. Its team of sustainability, technology, and related domain experts provide clients with gap analysis, double materiality assessments, and software updates to support the entire process from data collection to a ready report. Celsia staff will remain in place and continue to report to Celsia’s CEO & Co-Founder, Petter Reistad.
“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,” said Reistad. “Our clients are the true winners in this transaction. They will get access to a menu of complementary solutions, solving their full range of challenges within sustainability and regulatory reporting.”
To learn more about Celsia, please click here.
###
About ISS-Corporate
Companies turn to ISS Corporate Solutions, Inc. (“ISS-Corporate”) for expertise in designing and managing governance, compensation, sustainability, and cyber risk programs that align with company goals, reduce risk, and manage the needs of a diverse shareholder base by delivering data, tools, and advisory services. ISS-Corporate’s global client base extends across North America, Europe, and Asia, as well as other established and emerging markets worldwide. ISS-Corporate is a wholly owned subsidiary of Institutional Shareholder Services Inc. (“ISS”). ISS-Corporate provides advisory services, analytical tools and publications to companies to enable them to improve shareholder value and reduce risk through the adoption of improved corporate governance practices. The ISS research teams, which are separate from ISS-Corporate, will not give preferential treatment to, and are under no obligation to support, any proxy proposal of a corporate issuer nor provide a favorable rating, assessment, and/or any other favorable results to a corporate issuer (whether or not that corporate issuer has purchased products or services from ISS-Corporate). No statement from an employee of ISS-Corporate should be construed as a guarantee that ISS will recommend that its clients vote in favor of any particular proxy proposal or provide a favorable rating, assessment or other favorable result. For more information, please visit https://www.iss-corporate.com/.
About ISS STOXX
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,400 professionals operating across 33 global locations in 19 countries. Its approximately 6,400 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.
Media Contact:
Subodh Mishra
Global Head of Communications, ISS STOXX
media@iss-corporate.com
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