TORONTO, May 4, 2023 /3BL Media/ - Leading global enterprise Environmental, Health, and Safety (EHS) software provider Cority, announced today the acquisition of Greenstone, a UK-headquartered software company with a suite of sustainability solutions for enterprises and asset managers. This marks the third sustainability-focused acquisition for Cority in the past two years, including WeSustain and Reporting 21.
"We couldn’t be more thrilled to have the Greenstone team and its award-winning solutions come under the Cority umbrella,” said Mark Wallace CEO of Cority. “Our mission is to empower organizations to make better decisions that drive higher levels of operational and sustainable performance through people-first software solutions. The acquisition of Greenstone aligns perfectly, enabling us to deepen our capabilities and offer a more comprehensive toolset to our customers."
Founded in 2006 as a carbon accounting software business, Greenstone has evolved to offer comprehensive SaaS-based (Software-as-a-Service) solutions to enable a full range of sustainability and ESG (Environmental, Social, Governance) reporting across the entire value chain, including suppliers and investments. Driven by its brand promise of “data that talks to you,” the 51-person organization aims to simplify and facilitate the gathering, analyzing, and sharing of sustainability data through guided workflows, configurable questionnaires, data collection wizards, comprehensive emission and frameworks libraries, as well as advisory and data management services and support. With offices in London and New York, Greenstone serves over 75 customers in 106 countries across 15 industries.
"We are excited to be joining forces with Cority, a company that shares our mission to help our clients make better sustainability and ESG decisions through data-driven insights,” said Matthew de Villiers, CEO of Greenstone. “Our combined strengths will equip us to deliver a comprehensive suite of sustainability solutions that enable customers to measure, manage, and report sustainability and ESG information and performance throughout their organizations, supply chains, and investment portfolios.”
Businesses are facing mounting pressure from regulators, investors, and shareholders to prioritize sustainability. This has resulted in a global surge of interest in ESG data and practices. With mandatory reporting becoming more extensive, and the range of sustainability frameworks continuously evolving and expanding, there is a growing need for digital solutions to gather, track, and report sustainability performance accurately. Organizations are finding it increasingly difficult to keep up with these changes and need expert guidance to navigate the landscape successfully. The acquisition of Greenstone allows Cority to not only deepen the company’s sustainability & ESG expertise, but also expand its related offerings to better support existing and future customers in their responsible business decisions.
Ted Kail, chief product officer for Cority, shared, “We recognize that there is no one-size-fits-all approach to sustainability and ESG initiatives. Reporting frameworks, market maturity, and complexity of operational impacts vary dramatically across geo-regions, industries, and company size. 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.”
Following Cority’s established acquisition processes, within the first 90 days product and market leaders from across the combined organization will come together to evaluate all existing relevant solutions and develop a combined roadmap for the company’s sustainability and ESG solutions that best serves its customers and the market. The Greenstone solutions will be incorporated into Cority’s Sustainability Cloud to better support customers in managing, reporting, and actioning their sustainability and ESG initiatives. As part of Cority’s integrated responsible business platform, CorityOne, the Sustainability Cloud benefits from datasets throughout an organization being aggregated and fed into one central location to uncover key insights and create a single, accurate, and holistic view of EHS and sustainability performance.
Recently recognized as a leader in the Verdantix EHS Green Quadrant benchmark study, the independent research firm highlighted Cority’s “laser-focus on building an end-to-end EHSQ and sustainability solution [resulting] in a comprehensive offering” for organizations looking to “future-proof their EHS ecosystems.” The acquisition of Greenstone further solidifies the company’s market leadership with the broadest ESG offering within the EHS space, making the company more competitive across all EHS & ESG solutions. With its expanded global footprint, Cority will now have over 600 employees serving more than 1,600 customers worldwide.