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Financial Institutions Slow to Disclose Nature-Related Metrics: CDP
A prominent sustainability disclosures body has said data availability and accuracy are contributory factors in financial institutions’ slow reaction to addressing biodiversity loss linked to their investments. Only one in 10 banks, asset owners, asset managers and insurers disclosing metrics on their portfolios’ impacts forests and water security, the CDP said in its latest examination…
ESG Data is “in a Key Moment” – Industry Responds to Upbeat Bloomberg Survey
In a year when headlines focused on political pushback gave the impression that sustainability-focused investment strategies may be in decline, a survey from Bloomberg paints an altogether different picture. ESG data investment is growing and set to continue growing at least into the next 12 months, the financial data giant’s ESG Data Acquisition and Management…
Building Trust in AI: An Imperative for Widespread Adoption
By Anshuman Prasad, Global Head of Risk Analytics, CRISIL. As large language models (LLMs) continue to surprise there is a clamour to adopt AI in a more meaningful fashion across the financial services sector, where machine learning was previously accessible only in rarefied tech or quant circles. From algorithmic trading to predictive analytics and chatbots,…
DTCC Pulls Out of LEI Issuance with Closure of GMEI Utility – Bloomberg and LSE Expected Beneficiaries
DTCC has closed its Global Markets Entity Identifier (GMEI) utility and will no longer issue Legal Entity Identifiers (LEIs) as a Local Operating Unit (LOU) in the Global LEI System. In a notice to GMEI clients, DTCC said the utility, operated by DTCC subsidiary and accredited LOU Business Entity Data B.V., terminated all its LEI…
Webinar Preview: Empowering Asset Managers and Owners with ESG Solutions for Net Zero Transformation
Decarbonising the atmosphere is the defining goal of the environmental movement, and one that financial institutions are playing a vital role in achieving. They are working towards meeting targets set over the next 25-40 years of reaching a state in which the net amount of carbon released into the atmosphere by economic activity is zero….
Start-Up C-More Sets Sights on Ambitious SME Database
A Portuguese sustainability management software provider has set itself the daunting task of compiling a database that will eventually provide a base level of ESG information on every small business in the world. Lisbon-based start-up C-More has created a platform that helps small and midsize companies assess their own ESG maturity and learn how to improve their performance and…
DSB Adds Option to Use Alternative Underlier Ids to Search for or Create UPIs
The Derivatives Service Bureau (DSB) continues to prepare for the production launch of the Unique Product Identifier (UPI) on 16 October 2023 with an option for users of the UPI User Acceptance Test (UAT) environment to search for and create UPIs using a range of alternative underlier IDs. The alternative underlier ID feature allows firms…
INQDATA and KX Partnership Helps FIs Extract Maximum Value from Data at Speed
INQDATA, a data science company specialising in the curation, cleansing, mapping, and hydration of data for financial institutions, has partnered KX, provider of the kdb+ Data Timehouse and the KDB.AI vector database, to deliver streamlined data processing, drive informed decision making, and identify new opportunities. The INQDATA platform, powered by kdb+ , addresses issues associated…
A Powerful Voice for the ESG Data and Ratings Industry
The rapid maturity of the ESG data space had threatened to create a void in the policy and regulatory response that should be filled by industry participants. Three years ago, the Future of Sustainable Data Alliance (FoSDA) was founded to fill that very hole. Created at Davos by Sherry Madera, then an executive at Refinitiv, and the World Economic…
Future of ESG Ratings in Doubt as S&P Withdraws from Scores
S&P Global has made the surprise decision to stop issuing alphanumeric ESG scores with its credit ratings, raising questions about the continuing use of such metrics by financial institutions. The world’s leading provider of rankings on sovereign and corporate debt said it would cease providing scores on listed entities’ ESG performance with immediate effect. Instead,…