Sphera – Business Times Oman http://www.businesstimesoman.com Tue, 02 Aug 2022 15:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 Sphera Named a Market Leader for Carbon Management Software in Independent Research Report http://www.businesstimesoman.com/sphera-named-a-market-leader-for-carbon-management-software-in-independent-research-report/ http://www.businesstimesoman.com/sphera-named-a-market-leader-for-carbon-management-software-in-independent-research-report/#respond Tue, 02 Aug 2022 15:30:00 +0000 http://www.businesstimesoman.com/?p=305205 CHICAGO, Aug. 02, 2022 (GLOBE NEWSWIRE) — Sphera , a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, has been named a leader in the carbon management software market by Verdantix, an independent analyst firm, in its newest Green Quadrant report.

The Green Quadrant Carbon Management Software report aims to help organizations better understand the market evolution of the carbon management software ecosystem by taking a deep dive into the current software platform offerings. The benchmark report, based on the proprietary Verdantix Green Quadrant methodology, assessed 17 capability and 10 market momentum categories. The analysis was also based on a two–hour, live brief and product demonstration, vendor responses to 103 questions and customer interviews.

Sphera was awarded the highest score among vendors for carbon emissions calculation engine, data modelling for both Scope 3 upstream and downstream and carbon disclosure management. Sphera's strong capabilities in the storage, sourcing, calculation and coverage of emissions factors were noted by Verdantix. Sphera's Product Sustainability LCA Database (formerly GaBi), which covers over 15,000 datasets and contains LCA models for more than 700 grid mixes across 92 countries, was cited as a key differentiator. According to the Green Quadrant report, "Sphera is particularly well–positioned to serve firms in need of understanding their products' carbon footprints and identify emissions hotspots within the supply chain," and that Sphera "offers pre–built data models for upstream and downstream Scope 3 calculations."

Sphera also received top scores for net–zero strategy development, data acquisition and data management, with automated data capture capabilities and integration with internal IT systems noted as key strengths. Additionally, Sphera received the highest score among vendors for carbon financial management. As noted in the report, "Asset managers and private equity fund managers can leverage Sphera's financial data aggregation capabilities to collect information from different divisions, funds and portfolio organizations." Just this year, the Blackstone Group, one of the largest private equity firms in the world and Sphera's investor, integrated Sphera's carbon accounting solutions into its emissions reduction program, which seeks to reduce carbon emissions by 15% across a number of Blackstone's portfolio companies.

"We are very proud to be recognized by Verdantix as a leader in carbon management software," said Paul Marushka, Sphera's CEO and president. "Sphera is committed to helping our customers develop robust, science–based net zero targets that are measurable, actionable and auditable. And we're excited to see the acknowledgement and validation of our solutions that have been adopted by leading companies across industries. Bringing innovative solutions to market that enable organizations to assess their emissions baseline, accelerate their decarbonization efforts and improve corporate sustainability performance is critical to our mission of creating a"safer, more sustainable and productive world."

Carbon accounting is an essential part of any climate strategy. Sphera's carbon accounting and reporting solution enables companies to easily collect GHG emissions data, automatically calculate their organization's carbon footprint, address and solve Scope 3 quantification challenges and respond to a multitude of reporting frameworks and stakeholder initiatives. The report also noted that for companies wanting both software and consulting from one firm, "Sphera offers an integrated solution, incorporating software, data and consulting expertise. [Its] sustainability consultants advise clients on defining net zero objectives and strategies that are then tracked in the software."

About Sphera

Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. For more than 30 years, we have served over 6,700 customers and a million–plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

Contact:
Astrid Dickinson
sphera@aspectusgroup.com


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Sphera Tackles Scope 3 Emissions Reporting with Launch of its Automated Life Cycle Assessment Solution http://www.businesstimesoman.com/sphera-tackles-scope-3-emissions-reporting-with-launch-of-its-automated-life-cycle-assessment-solution/ http://www.businesstimesoman.com/sphera-tackles-scope-3-emissions-reporting-with-launch-of-its-automated-life-cycle-assessment-solution/#respond Wed, 11 May 2022 08:00:00 +0000 http://www.businesstimesoman.com/?p=306706 CHICAGO, May 11, 2022 (GLOBE NEWSWIRE) — Sphera , a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, today announced the launch of its new Life Cycle Assessment (LCA) Automation software, building upon the company's existing LCA solutions. The move comes as investor and regulatory pressures surrounding the standardization and digitalization of end–to–end sustainability data measurement continue to mount, necessitating increasingly sophisticated and granular reporting and compliance tools.

Sphera's next–generation solution integrates seamlessly with customers' existing systems for rapid deployment, allowing customers to quickly receive holistic, real–time analysis and insights into the environmental footprint of their product portfolios. It also features extensive managed content that enables customers to instantaneously calculate their carbon footprint at scale and model how adjustments to specific variables""such as leveraging a cleaner power source or altering production processes""may affect emissions outputs.

The LCA Automation solution serves as an extension of Sphera's existing Product Sustainability capabilities which include life cycle assessment software and content. The service allows a company to increase the number of LCAs by a factor of 1,000, in turn enabling the experienced LCA professional to focus on analyzing and improving results, versus creating them.

The overarching goal of Sphera's LCA Automation tool is to help businesses""especially those in sectors with complex supply chains, such as manufacturing, consumer goods, paints and chemicals""to more effectively reduce their greenhouse gas (GHG) emissions at every step of production, from design to disassembly. Improved forecasting will facilitate holistic corporate decisions with sustainability incorporated at each stage, allowing teams to proactively predict and control environmental impact.

Paul Marushka, Sphera's CEO and president, says: "Historically, LCAs have been viewed as voluntary, ad–hoc add–ons to broader corporate sustainability efforts. However, with consumer awareness growing in–step with regulatory mandates to mitigate the effects of climate change, LCA Automation feeds into the highest needs of decarbonization. As recent moves from the EU, SEC and the latest IPCC report have shown, financial and reputational fallout from a failure to act are very much a "when', not an "if'."

Continues Marushka, "From helping engineers create more sustainable products to enabling procurement professionals to establish lower carbon emission supply chains, LCA Automation will transform decision–making, for the benefit of both businesses and our planet."

About Sphera
Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. For more than 30 years, we have served over 3,000 customers and a million–plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

Contact Information:
Astrid Dickinson
sphera@aspectusgroup.com


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Gap Between Intent and Implementation in Workplace Safety Processes Persists, Sphera’s 2021 Safety Report Finds http://www.businesstimesoman.com/gap-between-intent-and-implementation-in-workplace-safety-processes-persists-spheras-2021-safety-report-finds/ http://www.businesstimesoman.com/gap-between-intent-and-implementation-in-workplace-safety-processes-persists-spheras-2021-safety-report-finds/#respond Thu, 28 Oct 2021 14:03:04 +0000 http://www.businesstimesoman.com/?p=306643 CHICAGO, Oct. 28, 2021 (GLOBE NEWSWIRE) — While most companies have embraced safety as part of their corporate culture, there are still hurdles to overcome to improve their process safety and personal safety performance, Sphera's new Safety Report reveals.

Sphera , a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, surveyed nearly 350 risk, process safety and health and safety professionals. Results show that while 75% of the respondents said that safety is part of their organization's corporate culture, only 40% said they have a well–defined safety performance roadmap in place.

Safety is the foundation of any strong organization and a key component of ESG. According to Sphera's Safety Report, creating a safety culture is just as important as being compliant, which has impacted the prioritization of performance safety drivers. Respondents indicated that the top three key safety performance drivers are reducing operational and major accident hazard (MAH) risk exposure (60%), regulatory compliance (48%), and corporate and board priority (37%).

Employer awareness of the safety hazards facing their workforce has been heightened during the pandemic. Over a quarter (27%) of respondents indicated that the adoption of centralized Health and Safety processes is lagging.

For five years, Sphera produced the highly anticipated Process Safety Management/Operational Risk Management (PSM/ORM) report exploring industry trends in process safety and operational risk management. However, with the 2021 report Sphera has expanded the overall safety landscape to include health and safety as well. While the occupational safety and health sector has especially felt pressure, companies across all sectors have had to make constant structural adjustments to keep workers safe.

"The pandemic has highlighted just how quickly safety and risk management processes can be thrown off balance. Safety in all its aspects makes for a resilient and sustainable business model, especially in an era when ESG goals are of the utmost importance," said Sphera CEO and President Paul Marushka. "An effective safety culture and efficient safety process helps ensure a healthy workforce and enhanced business performance. However, we are still seeing a gap in how companies link safety and business performance, which highlights a need for a more holistic approach through data, software and expertise."

Additional insights:
This year's survey shows 51% of respondents pointing to limited resources, 43% to conflicting priorities and 31% to limited budgets as the main obstacles to delivering planned safety–critical maintenance and inspections, which has remained consistent. These leading indicators of the underlying problems preventing organizations from achieving improved safety performance and fewer incidents tie back to the gap between safety intent and safety implementation.

The Sphera Safety Report shows that there is still work to be done implementing risk monitoring practices that address the full spectrum of risks across organizational silos. Additionally, a little over half (56%) of respondents indicated that they still track critical safeguards/barriers manually, such as loss of containment and structural integrity, and a mere 19% said that these safeguards are monitored in real time. This further highlights the stronger ties between process and worker safety that emerged during the pandemic and the need for organizations to have a holistic view of safety and risk management.

About the Safety Survey
Sphera surveyed 349 risk, process safety, and health and safety professionals from a cross–section of global industries from across the world evaluating their safety standards for the 2021 Safety Report. Respondents came from several global industries, such as Manufacturing, Oil and Gas, Chemicals/Petrochemicals, Energy, Construction, Professional Services and Government.

About Sphera
Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

For media inquiries or to request a copy of the report, please contact:
Denise Jones, Marketing Communications Manager, Sphera, djones@sphera.com


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Despite Heightening Investor Pressure, Few Companies Publicly Report on Sustainability, Sphera’s New Survey Finds http://www.businesstimesoman.com/despite-heightening-investor-pressure-few-companies-publicly-report-on-sustainability-spheras-new-survey-finds/ http://www.businesstimesoman.com/despite-heightening-investor-pressure-few-companies-publicly-report-on-sustainability-spheras-new-survey-finds/#respond Thu, 30 Sep 2021 12:00:00 +0000 http://www.businesstimesoman.com/?p=306479 CHICAGO, Sept. 30, 2021 (GLOBE NEWSWIRE) — Though pressure is growing from all corners""from investors, to governments, to boards of directors""companies worldwide struggle to report progress on their Environmental, Social and Governance (ESG) goals. Indeed, just 38% of businesses publicly communicate their sustainability performance, according to a new survey from Sphera , a leading global provider of ESG performance and risk management software, data and consulting services.

It's not just a matter of disclosing progress on their objectives, however; companies are also behind the curve when it comes to clearly setting their ESG goals in the first place. Less than one–third (29%) of the respondents said they have set and communicated their sustainability targets, and even fewer""16%""have set emissions targets in accordance with the Science Based Targets initiative (SBTi) framework.

This marked lack of ESG transparency highlights the persistently wide chasm between ESG promises and action in the private sector. In the absence of significant, enforceable regulations worldwide, companies have largely been left to voluntarily make commitments, but with no meaningful mechanisms to either measure their progress or hold themselves accountable to them. About half (51%) of companies surveyed affirm that their senior management has made sustainability commitments, but only 21% say they have a clear roadmap to implementation, and just 26% say they have fully integrated sustainability into their business strategy.

"It's easy to "talk the talk' when it comes to corporate ESG initiatives, but much harder to "walk the walk'," says Paul Marushka, Sphera's CEO. "Businesses have largely been left to their own devices to establish and measure their sustainability performance, leading to a constellation of voluntary frameworks that ultimately disincentivize meaningful action. But with the Intergovernmental Panel on Climate Change's recent report providing its strongest warning yet "" indicating that half–measures will no longer cut it "" and the upcoming COP26 conference promising to hold the business community to account, organizations need to start making good on their promises and show tangible progress."

These findings are from Sphera's Sustainability Survey 2021, a survey of 218 global business leaders evaluating their sustainability metrics, measurement and progress.

Additional findings from the survey include:

Scope 3 is missing from the menu. Though reducing emissions across the value chain is essential to meeting decarbonization targets and""for those businesses who have committed to them""achieving net zero emissions, very few companies have accounted for Scope 3 emissions in their sustainability plans. Only 13% of businesses surveyed said they have identified all relevant Scope 3 categories and completed a corresponding hotspot analysis; 29% say they consider the entire value chain when calculating their corporate emissions baseline or carbon footprint.

"Scope 3 emissions can make up the vast majority of a company's overall carbon footprint," Marushka added, "which means any sound sustainability strategy must involve an assessment of the supply chain and a commitment to working with suppliers who are also taking measurable steps to reduce their emissions. The end result ultimately creates a multiplier effect for both companies' sustainability efforts."

Poor data quality can stymie even the best efforts. Only a minority of respondents (16%) use data from established commercial databases to quantify their corporate carbon footprint; another 14% say they use high–quality, industry–based data for baseline assessment at the product level. In practice, this means many more organizations are using suboptimal datasets, such as spend–based, input–output databases, to measure their emissions. These types of top–down, nonspecific data sources can lead to inaccurate assessments, further exacerbating the gap between sustainability promises and outcomes.

The middle market struggles the most. Perhaps unsurprisingly, large organizations with more than $1 billion in revenue are more likely to be rated as optimized (34%) in terms of sustainability maturity.1 At the same time, 39% of small businesses with less than $100 million in revenue are considered optimized. Midsize businesses trail both, with an optimization rate of just 30%. In fact, midsize businesses are more likely than their larger or smaller counterparts to not exceed basic compliance requirements (25% vs.13% for smaller organizations and 6% for larger organizations).

About the Sustainability Maturity Survey 2021
Sphera partnered with the University of Esslingen in Germany to design and field a survey of companies throughout Europe, North America and Asia–Pacific. Respondents represented businesses in a wide range of industries, including automotive, construction, education, health care, oil and gas, manufacturing and technology. The survey was conducted between April 7 and May 3.

About Sphera
Sphera creates a safer, more sustainable and productive world. We are a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship.

Press Contact
Kylie Souder
kylie.souder@aspectusgroup.com
+1 513–304–5776

__________________
1
According to Sphera's Sustainability Maturity rubric, an "optimized" business leverages ESG software and data resources to go above and beyond meeting compliance requirements to help find efficiencies, increase productivity and innovation, reduce costs and mitigate risks. A "leader" is at the head of the competitive pack and is shaping the future of its sector through its sustainability initiatives.


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Blackstone Completes Previously Announced Acquisition of Sphera, Leading Provider of ESG Software, Data, and Consulting Services http://www.businesstimesoman.com/blackstone-completes-previously-announced-acquisition-of-sphera-leading-provider-of-esg-software-data-and-consulting-services/ http://www.businesstimesoman.com/blackstone-completes-previously-announced-acquisition-of-sphera-leading-provider-of-esg-software-data-and-consulting-services/#respond Tue, 14 Sep 2021 17:00:00 +0000 http://www.businesstimesoman.com/?p=306903 NEW YORK and CHICAGO, Sept. 14, 2021 (GLOBE NEWSWIRE) — Sphera today announced that private equity funds managed by Blackstone (NYSE: BX, "Blackstone") have completed their previously announced acquisition of Sphera, a leading provider of environmental, social and governance (ESG) software, data and consulting services, from Genstar Capital. The transaction, which values the company at $1.4 billion, continues Blackstone's thematic investment focus on the ESG sector and provides Sphera with capital to help accelerate its growth and product offerings.

Spanning over 80 countries with more than 3,000 customers, Sphera combines its software as a service solution with consulting services, underpinned by proprietary data, to support businesses globally to manage and mitigate ESG risk. This support is delivered through its three product lines: Environment, Health, Safety & Sustainability (EHS&S); Operational Risk Management; and Product Stewardship.

As part of Sphera's strategic growth efforts, the company is also announcing the appointment of Kimberly Kolb as chief human resources officer (CHRO). As CHRO, Kolb will be responsible for developing and supporting Sphera's global workforce as the organization continues to grow its footprint worldwide. She brings over 30 years of human resources, consulting and marketing experience from technology, professional service and financial services firms to the position, and held senior leadership roles at Whittman–Hart, CME Group and XR Trading.

Paul Marushka, CEO and president at Sphera, said, "As we enter this new stage, we are excited to be able to partner with Blackstone. Our achievements to date are a result of the dedication, hard work and effort of the team at Sphera. I am proud to collaborate with such a dedicated team as we take Sphera, with Blackstone's investment and support, to the next level. This partnership with and capital injection by Blackstone will facilitate the next evolution of innovation, cementing our position as leaders and allowing us to push ahead with our vision for ESG software integration with extensive data and world–class consultancy services."

Eli Nagler, a senior managing director at Blackstone, said: "We are excited to partner with Paul Marushka and his team to build on Sphera's strong momentum as a trusted leader in the ESG solutions space. We look forward to supporting the company in the next phase of its growth journey as they continue to expand their product offerings and innovate to best serve their global customer base."

Note to editors

About Sphera
Sphera creates a safer, more sustainable and productive world. We are a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

About Blackstone
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long–term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non–investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact:

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Sphera Announces Expanded Availability of Environmental, Social and Governance Reporting Solutions http://www.businesstimesoman.com/sphera-announces-expanded-availability-of-environmental-social-and-governance-reporting-solutions/ http://www.businesstimesoman.com/sphera-announces-expanded-availability-of-environmental-social-and-governance-reporting-solutions/#respond Thu, 09 Sep 2021 15:00:00 +0000 http://www.businesstimesoman.com/?p=306042 CHICAGO, Sept. 09, 2021 (GLOBE NEWSWIRE) — Sphera , a global leader in Environmental, Social and Governance (ESG) risk and performance management software, data and consulting services, announces the widespread availability of its integrated ESG solutions. They consist of a comprehensive suite of data, software and consulting services that help customers quickly and effectively elevate their ESG performance and reporting capability.

With this expanded offering, Sphera customers will have better access to data–driven insights to maximize cost–effectiveness, increase the value of their investments in corporate social responsibility efforts, and satisfy both traditional compliance and future sustainability needs. Managing ESG performance reduces exposure to environmental risk, increases revenue and drives organizations into a sustainable future. With growing investor demand for measurable ESG progress, business leaders need to be able to demonstrate their ESG performance with clarity and confidence. Sphera has adapted its technology suite to specifically address this burgeoning market need. Features of Sphera's integrated ESG solutions include:

  • Industry–based sustainability data to provide reliable data–driven insights""close to 15,000 datasets for more than 20 industries""into a company's value chain and create a foundation for fact–based improvement and communication of your ESG performance.
  • Connected, scalable software solutions to ensure transparency and increase the efficiency of each stage of a customer's sustainability and ESG journey.
  • Expert–led ESG guidance from sustainability consultants to bring deep sector and method–specific knowledge into the equation.

Moving toward a net–zero emission target is one of the most important metrics for ESG reporting. However, the assessment, management and reduction of Scope 3 emissions are the most difficult parts to achieve due to the huge amount of information that needs to be collected and analyzed. Sphera's combination of data, software and expertise helps companies address these strategic decarbonization challenges.

Sphera's ESG solution also incorporates a number of widely accepted disclosure framework standards, such as the Global Reporting Initiative (GRI). This flexibility enables companies across industries to efficiently report their sustainability activities in relevant, sector–specific terms.

"Innovation has always been at the heart of Sphera's mission, and our laser focus on staying ahead of the risk management curve has helped us evolve to become a leading integrated ESG software, data and services organization""at a time when our clients need these services the most," said Paul Marushka, Sphera's president and CEO. "Companies with the highest levels of ESG performance see greater returns on their investments, and we believe our comprehensive solutions can help them harness this powerful correlation."

Sphera has long been at the forefront of innovative sustainability reporting solutions, leveraging its triple–powered approach of Innovation, Information and Insights to help companies improve their ESG performance." Verdantix, an independent analyst firm, recently named Sphera as a market leader for environmental compliance, sustainability management and sustainability reporting in its EHS Software Benchmark report. Sphera achieved the highest aggregate score for environmental compliance management and Corporate Sustainability solutions.

"Sphera is one of the few digital solution providers to bring together capabilities for sustainability reporting, ESG risk management and product stewardship. They've made meaningful investments in building their ESG reporting capabilities," added David Metcalfe, CEO of Verdantix. "Their recognition in our EHS Software Benchmark report is a direct reflection of their commitment to leading the way for corporate sustainability excellence."

To learn more about how Sphera is helping customers in their sustainability journey, read about how the company helped Aptar, a global leader in packaging and drug delivery devices, validate their ESG risks and opportunities according to the TCFD methodology.

Dr. Michele Del Grosso, global program manager of sustainability at Aptar said that, "Sphera's corporate sustainability and strategy experts provided Aptar with valuable insights into the financial implications of our climate–related risks and opportunities. This enabled us to provide our stakeholders with valid proof of our environmental performance. By integrating the results into CDP reporting, we were able to improve ESG performance and recognition to become a CDP 2020 Climate A–List company."

For additional information on how Sphera is helping customers meet and exceed ESG performance goals, visit https://sphera.com/begin–your–esg–sustainability–journey/.

About Sphera

Sphera creates a safer, more sustainable and productive world. We are a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship.

For media enquiries, please contact:

Sphera@AspectusGroup.com


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