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How Kroll is boosting its ESG credentials with Watershed

The risk and financial advisory firm embraced software to support security, collaboration, and a desire to act

road with forrest

Kroll is a leading independent provider of risk and financial advisory solutions. The company strives to “leverage unique insights, data and technology to help clients stay ahead of complex demands.” As Kroll looked to build a climate program that would meet its needs, it quickly outgrew its initial spreadsheet-heavy approach and turned to Watershed for a more scalable solution grounded in software.

[Measurement] Challenge - A cumbersome spreadsheet that wasn't sophisticated or secure

Kroll’s previous footprint measurement was calculated using a spreadsheet, which was cumbersome. As a growing, global organization focused on helping clients identify risk in their businesses, Kroll’s team began looking for a sophisticated and secure solution to support carbon footprint measurement.

At Kroll, our experts provide our clients with data-tested analysis to stay ahead of the most complex business challenges—and we expect our internal ESG strategies to be backed by the same type of rigorous analysis. We needed a strong SaaS program with vetted systems and methodologies to help form a strong climate strategy, and Watershed fit that bill.

Paul Koppel,
Global Head of Corporate Social Responsibility

[Measurement] Solution: Adopt Watershed

Kroll implemented Watershed to calculate its 2022 footprint and found the process to be efficient and effective, according to Paul Koppel. The team pointed to specific benefits of using Watershed:

  • Easy to identify and find the right data to import: “Watershed provided a roadmap for us to understand where we could find the data points we needed for our footprint and then reach out to the correct stakeholders,” said Rodgers. “Watershed significantly simplified the data collection process.”
  • Collaborative software that is a single source of truth: “Colleagues can hop into Watershed and ensure that the right data is being submitted rather than having one centralized person taking data from their email and putting it into a spreadsheet,” Koppel shared. “Using Watershed’s software helps us ensure the right stakeholders are involved at every step of the measurement process.”
  • Simplified analysis for planning purposes. “Shifting from spreadsheets to Watershed’s SaaS platform allows us to have all of our historical and current data in a single source so that we can look back and understand our progress,” shared Koppel.

[Measurement] Result: A data-rich foundation to start moving the needle

With a complete footprint in hand, Kroll laid the foundation for a strong sustainability posture that it will continue to build on.

In particular, its team is excited to:

  • Align on climate targets and prioritize emissions reduction work with confidence: “We want to move the needle with our future strategy. Watershed has given us the strongest, most complete data at our fingertips.”
  • Improve response times on customer RFPs: “Watershed allows us to quickly capture granular data when needed.”
  • Provide the answers our people seek: “A commitment to sustainability and carbon reduction helps build pride and purpose amongst our employee base.”

[Reporting] Challenge: Reporting feels like a full-time job

Disclosing climate work, like reporting to CDP, is a key priority for building brand reputation and a competitive edge, but can also be a full-time job—pulling the team into reports rather than action.

Keeping up with the ever-changing regulatory landscape is essential for remaining compliant and avoiding risk, but it’s also a time-intensive task. “We needed a thought partner to act as a sustainability guide to support our approach to ESG reporting,” said Rodgers.

After a significant time investment in CDP reporting in 2022, Kroll’s team recognized it could benefit from a SaaS-based solution.

We’re proud of our ESG work and with Watershed’s support, our reporting is more efficient and accurate.

Kate Rodgers,
Senior Associate, Corporate Social Responsibility

[Reporting] Solution: Use Watershed's Guided CDP report builder

In 2023, the team used Watershed’s Guided CDP report builder and had a complete draft ready to present to its internal stakeholders in an efficient manner. Rodgers shared, “As a relatively new professional in this field, I was lost in a lot of the technical language of the questions last year and spent time doing additional research because it was sometimes difficult to understand what CDP was asking. Watershed’s technology eased the process."

Kroll sees reporting and disclosing as a small part of its ESG team’s role—the bulk of the work lies in developing and executing strategies. “Kroll is about action,” says Rodgers, “ and Watershed helps us get the reporting done faster, so we can spend more time focused on what matters most.“

Watershed’s platform helped us better understand what every question was asking, how CDP awards points and how to best frame our answers.

Kate Rodgers,
Senior Associate, Corporate Social Responsibility

cdp report builder

[Reporting] Result: More time to put climate strategies into action

Kroll’s team got its CDP response done well and quickly; They put their best foot forward in this year’s response, and see their score as a foundation for future progress. Their ability to report more quickly opens more time to focus on building strategy and taking action.

Using Watershed helped us be more efficient so we can focus on the real work of putting our climate strategies to action. We get it right, and we get it right faster.

Kate Rodgers,
Senior Associate, Corporate Social Responsibility

Read the full Q&A with the Kroll team about their experience using Watershed to report to CDP