SAP introduces new green ledger initiative

Tech

SAP introduces new green ledger initiative

Published: 04 Jul. 2023, 18:20

SAP Asia Pacific & Japan President Paul Marriott speaks at a press event in Gangnam District, southern Seoul, on Tuesday. [SAP KOREA]

SAP's new green ledger initiative will allow Korean companies to keep track of carbon emission-related data amid increasing net-zero commitments, SAP Asia Pacific & Japan President Paul Marriott said Tuesday.

SAP, a global software giant, is already offering its enterprise resource planning system to Korean companies, including Samsung Electronics, LG CNS, SK Telecom, SK hynix and Lotte. The system digitally transacts all of the company's data sets related to finances, customer and human resources management.

The green ledger initiative will additionally allow companies to calculate emission-related data on a transactional level on par with accounting data, making it more efficient for them to manage their green line.

“The Asian market represents more than 50 percent of the world’s emissions, but we equally have the most popular young talent coming out of Asia,” Marriot said at the “SAP Now Seoul 2023” press event held in Gangnam District, southern Seoul, on Tuesday. “Combined with the fact that Korea is one of the fastest growing hotbeds of technology and innovation, I truly believe that we will have a profound impact obviously on climate change but also very significant economic monetization opportunities as well.”

As the global economy becomes more sensitive to climate change, companies have to follow suit, Gunther Rothermel, head of S/4HANA Sustainability at SAP, said.

“When you look at the regulations that are coming up they demand a deeper level of specific sustainability-related data, which means the basic dataset you have has to be reliable,” said Rothermel. “It [also] has to follow financial principles so that you know the balance is truly right. […] You can do a lot of sustainability activities, You can use your carbon footprint and know what it means to your organization financially.”

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]