A-Team Insight Blogs

AxiomSL Integrates ESG and Financial Reference Data to Automate Sustainability Reporting

AxiomSL has released an Environmental, Social and Governance (ESG) solution designed to automate compliance with sustainability and social impact reporting requirements being developed by the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and other regulatory bodies.

The solution standardises the process of integrating ESG data attributes, such as counterparty exposures, climate risk reference data and social impact data, with existing financial reference data in a common data dictionary to streamline ESG reporting for financial institutions.

It does this by ingesting proprietary, bank reported and third-party ESG data from all major data vendors and reducing the information down to granular data attributes that can be tagged with reference data required for regulatory disclosure. By integrating individual ESG attributes with existing financial data in a common data dictionary, the solution makes it possible to automate ESG risk disclosures using a methodology that ensures both accuracy and consistency.

In addition to fulfilling regulators’ disclosure requirements, a consistent data flow makes it possible for institutions to continually benchmark their progress against stated sustainability and social impact improvement goals.

“Creating a sustainable future is about more than just reducing emissions and committing to global initiatives. Financial institutions need to be able to accurately measure and report on their exposure to ESG risks to track progress and drive improvement,” says Alex Tsigutkin, founder and CEO at AxiomSL. “By integrating essential climate risk and social impact data with our existing financial data in a common data dictionary, we are making it possible for institutions to automatically capture and report ESG exposures in much the same way as they have been reporting traditional financial risks.”

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