SAP sees growing demand for sustainability software despite U.S. climate disengagement
31/01/2025 08:45
Jan 31 (Reuters) - Germany's SAP SAPG.DE sees a
growing global demand for software to manage and document
companies' sustainability efforts despite a trend of weakening
climate protection targets in the United States, its chief
financial officer, Dominik Asam, said in an interview with
Reuters.
This week, the United Nations said the U.S. will withdraw
from the Paris climate agreement on Jan. 27, 2026, after
Washington formally notified Secretary-General Antonio Guterres
of President Donald Trump's decision to quit.
"The topic of sustainability will not disappear from
investors' discussions," Asam said, adding that he expects
companies to still need reliable figures and analysis tools to
make decisions on the topic.
"I spoke to many investors at the World Economic Forum in
Davos who are concerned with sustainability. They are very
optimistic despite the recent U.S. elections," he adds.
In this context, he sees potential for SAP's fledgling Green
Ledger software that he said helps companies make their
sustainability reporting as verifiable as a financial balance
sheet, which will be required from 2028 in the framework of the
European Corporate Sustainability Reporting Directive (CSRD).
Apart from chemical firm Covestro 1COVG.DE , it's mainly
SAP using the software, but the CFO expects contracts to be
signed. "A lot will happen in the second half of this year," he
said.
(Reporting by Hakan Ersen, writing by Paolo Laudani, editing by
Miranda Murray)
((Paolo.Laudani@thomsonreuters.com;))