The introduction of the EU Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) has placed complex new demands on the financial and insurance sectors. Environmental, Social and Governance (ESG) reporting now requires the same level of accuracy, consistency and audit traceability as traditional financial reporting. To digitalize and automate these processes, Zavarovalnica Triglav and Triglav Group, the leading insurance and financial group in the Adria region, have selected the advanced CCH Tagetik ESG platform, working in partnership with CRMT.
This article covers:
New sustainability reporting challenges in the financial sector
With the adoption of the CSRD and its accompanying ESRS standards, sustainability reporting has shifted from a voluntary exercise to a tightly regulated process. For insurance and financial institutions, this means managing vast volumes of non-financial data drawn from multiple internal systems and external sources.
Beyond tracking direct and indirect greenhouse gas emissions (Scope 1, 2 and 3 under the GHG Protocol), financial institutions must also report on the alignment of their investment portfolios and insurance products with the EU Taxonomy. The entire process must be structured to allow direct review and sign-off by external auditors.
Why did Zavarovalnica Triglav choose the CCH Tagetik ESG solution?
The scale and complexity of the new requirements make manual data processing and spreadsheets untenable, pushing organizations toward comprehensive software solutions. After a thorough evaluation of vendors, Zavarovalnica Triglav and Triglav Group selected CCH Tagetik as its strategic platform. The solution is developed by Wolters Kluwer, with CRMT serving as the specialized implementation partner in the region.
Key reasons behind the choice of CCH Tagetik ESG include:
- Bringing finance and ESG together on one platform: CCH Tagetik unifies financial and non-financial data into a single source of truth.
- Pre-built content templates and models: Built-in models aligned with the ESRS standards and the GHG Protocol accelerate deployment and reduce compliance risk.
- Well suited for the insurance sector: The ability to integrate external and internal investment and policy data to meet EU Taxonomy requirements.
- Proven local expertise: CRMT’s extensive experience implementing CCH Tagetik solutions and its deep understanding of the regional regulatory landscape.
Key capabilities of the CCH Tagetik ESG solution
The CCH Tagetik solution supports Zavarovalnica Triglav and Triglav Group across the full ESG reporting lifecycle:
- Double Materiality Assessment (DMA): Pre-built questionnaires and tools to identify material ESG topics from both an impact and a financial materiality perspective.
- Greenhouse gas emissions calculation (GHG module): Precise calculation of Scope 1, 2 and 3 emissions in line with internationally recognized methodologies.
- Automated validation controls: Built-in checks verify compliance, consistency with prior periods, and the completeness of data points expected based on the materiality assessment.
- Full audit trail: A complete audit of all entries, changes and calculations, including detailed user and timestamp information, giving external auditors fast and straightforward oversight.
- Scenario analysis and IRO (Impacts, Risks, Opportunities): A tool for simulating different scenarios and assessing impacts, risks and opportunities.
Sustainability is embedded at the core of our business strategy, and transparent, credible reporting on our impact is key to building stakeholder trust. As ESG regulatory requirements grow broader and more complex, we needed robust, reliable and advanced IT support. The CCH Tagetik solution won us over with its comprehensiveness and its ability to automate demanding data collection and processing workflows. We expect the new solution to bring greater process efficiency, high data quality and audit traceability, and better insight to help guide us toward our sustainability goals.
Nina Kelemen, Head of Sustainability at Zavarovalnica Triglav
We are proud that Zavarovalnica Triglav, the region’s leading financial institution, has once again chosen CRMT and CCH Tagetik as a strategic partner for the digital transformation of its core business processes. ESG reporting is no longer just a regulatory obligation; it is becoming a central pillar of performance and risk management. The CCH Tagetik ESG solution enables companies to manage non-financial data with the same level of accuracy, control and governance as financial results. Drawing on our expertise and understanding of the insurance sector, we will ensure the Triglav Group a smooth rollout and a system that will make it easier to meet demanding reporting standards for years to come.
Daniel Potočnik, Partner, CFO and Sustainability Reporting Specialist at CRMT
What does Triglav Group expect from the new solution?
Through the successful implementation of CCH Tagetik ESG, Triglav Group will gain:
- Unified, centralized ESG data collection across the various business units and subsidiaries within the Triglav Group.
- Seamless alignment with ESRS and CSRD, along with readiness for future regulatory updates and technical standards (e.g., XBRL/iXBRL tagging).
- Significantly reduced error risk and time savings by eliminating manual data transfer processes.
- Greater stakeholder and auditor confidence, thanks to full transparency and traceability across all data points.
Ready to take the next step?
Our experienced team is happy to answer your questions and advise you on how to effectively establish ESG reporting and performance management within your organization.