Miagen invests €1.8m in environmental standards compliance tool to eliminate greenwashing
Miagen is to invest €1.8 million in the launch of GreenGen, a tool for helping businesses comply with the EU’s Corporate Sustainability Reporting Directive (CSRD) and other environmental and social good reporting frameworks.
Initially targeting Europe’s largest enterprises, the CSRD is a landmark regulation that aims to improve sustainability transparency, while also providing the EU with greater insights into key sustainability and environmental issues.
GreenGen provides an interactive reporting hub that vastly reduces the time and costs required for these labour-intensive processes. The hub manages the collation of data from businesses’ value chains and provides live, streamlined data for producing reports. It uses customised APIs, while providing AI-driven guidance on the more than 1,200 data points required for the CSRD. In addition, its audit and assurance capabilities ensure integrity of numbers, thus eliminating growing fears among corporations of greenwashing.
GreenGen is the result of two years of research and development and the investment is the culmination of this research, along with technology, training and new hires.
Teddy Murphy, CEO, Miagen, said: “Environmental integrity is one of the greatest assets a business can have right now. In addition, the increasing complexity of ESG reporting – intensified by the introduction of the CSRD – means that businesses must get to grips with their data. GreenGen will be a game-changer for organisations as they navigate these complex issues as it greatly simplifies reporting and it will give them insights that they, until now, have never had – or even knew were possible.
“The launch of GreenGen is a natural next step for Miagen, as it relies on the same technologies and expertise that have earned us our global reputation for intelligent enterprise planning. Now, we are delivering technology that goes beyond meeting business needs and regulatory requirements; we are driving positive societal impact. What gets measured, gets managed and we are confident that GreenGen is the tool businesses need to crystallise their data into action.”
Miagen has helped enterprises to plan more than €100 billion in revenues through decision-making based on its financial and enterprise planning models for more than 20 years. The company employs 15 people in its Dublin office.
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