CLP has advised Celsia AS, the Oslo-based provider of SaaS solutions for corporate sustainability reporting, in the sale of Celsia to ISS-Corporate.

CLP’s core team consisted of senior associate Jeanette Brokerud and partner Amund Erdal.

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.

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.

ISS Corporate Solutions, Inc. (“ISS-Corporate”) provides 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., majority owned by Deutsche Börse Group.

More information is available here (press release) and here (Dagens Næringsliv).