GLEIF Signals Intent to Join Global Project Designed to Digitise ESG Credentials of MSMEs

The Global Legal Entity Identifier Foundation (GLEIF), United Nations Development Programme (UNDP), and Monetary Authority of Singapore (MAS) have signed a statement of intent to embark on a collaborative initiative to develop digital Environmental, Social and Governance (ESG) credentials for micro, small and medium-sized enterprises (MSMEs) worldwide.

The initiative, Project Savannah, hopes to lower the barriers to ESG reporting for MSMEs by establishing a common framework of ESG metrics to generate basic sustainability credentials and commence the journey towards meeting UN Sustainable Development Goals (SDGs). It will use digital initiatives, such as MAS’s Project Greenprint1, to generate ESG data credentials that can be housed in MSMEs’ LEI records. MSMEs will then be able to transmit verified entity information and key ESG data to their business partners.

Arcesium and Confluence Partner to Provide Efficiencies for the Buy-Side

Arcesium, a provider of enterprise data management solutions, and Confluence, a solutions provider for the investment management industry, have partnered to deliver an integrated data management and analytics solution for middle/back-office operations of asset managers.

The partnership is intended to deliver workflow efficiency across performance, risk and regulatory reporting, and will integrate Confluence’s StatPro Analytics solution, comprising performance, attribution, risk, GIPS, and other investment analytics, with Arcesium’s Financial Data Stack modules and cloud-native data management platform, Aquata.

The offering is available as a technology solution or a fully managed service, allowing asset managers to consolidate vendors and lower total cost of ownership.

Sphera Launches Cloud-Based AI Climate Risk Tool

Investor clients of ESG risk management software provider Sphera can access the company’s new SpheraCloud Corporate Sustainability-Portfolio Management service. The product offers financed emissions and portfolio emissions data, using AI.

Finastra Unveils Bank Climate Sandbox with Green RWA

FinTech Finastra has partnered with Green RWA to create a tool that enables banks manage climate risks, including those facing their assets. The Climate-Extended Risk Model (CERM) Sandbox calculates physical and transition risks to its portfolio and loan book as well as its own operations.

ICO Recommends Privacy Enhancing Technologies

The Information Commissioner’s Office (ICO) is recommending organisations start using privacy enhancing technologies (PETs) to share personal information safely, securely and anonymously. These types of technologies open unprecedented opportunities for organisations to harness the power of personal data through innovative and trustworthy applications, by allowing them to share, link and analyse people’s personal information without having access to it.

The ICO has launched new PETs guidance, which is aimed at data protection officers and others who are using large personal data sets in finance, healthcare, research, and central and local government.

JPMorgan Launches Platform to Make ESG Data Easier to Use

JPMorgan Securities Service has unveiled a sustainability data interrogation and integration tool for clients. The Sustainable Investment Data Solution, available through the bank’s cloud-based Fusion platform, is designed to make it easier for clients to use ESG data, which is provided by multiple vendors, including Bloomberg and Sustainalytics.

ESG Risk Tool to be Reviewed by ISS ESG

ISS ESG is to adjust the methodology and data underlying its Environmental & Social Disclosure QualityScore product. The environmental and social risk assessment tool will undergo changes by the third quarter in response to changed disclosure standards. The Maryland-based sustainable investment arm of Institutional Shareholder Services said more than 150 factors underlying the score would be reviewed, with 60 new additions and 50 retired.

Bloomberg Offers Full Funds Data Suite, Including ESG

Bloomberg has included ESG information in a major new product that provides transparency into almost 150,000 funds and exchange traded products. The Funds Data Solution also offers foundational, holdings, corporate actions, risk and regulatory data.

Linedata Publishes 2023 Global Asset Management Survey

Linedata has published the results of its 2023 Global Asset Management Survey, revealing a focus on operational efficiency, digital transformation, and client experience. The survey is designed to provide insights into the priorities and challenges asset management firms are facing and includes responses from 265 industry leaders across the Americas, Europe, and Asia-Pacific.

The report notes factors that are shaping asset management, including continuing digital transformation led by automation, data integration pain points exemplified by ESG, outsourcing, AI adoption, and the journey to cloud. In support of these factors, it identifies key trends across the asset management community including the need to increase operational efficiency – which is top of the strategic agenda, technology spending priorities on risk management, including compliance, and portfolio and operational risk; intensifying demand for ESG data; and acceleration towards adopting flexible operating models.

Novata Platform Incorporated into IQ:EQ ESG Offerings

Novata, an ESG data provider to private markets and investors, has signed a deal to embed its services with investor assistance group IQ:EQ. US-based Novata’s portfolio assessment platform will be incorporated into IQ:EQ’s various ESG solutions, which enable clients to gather, manage and deploy sustainability data.