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Basel Committee to Seek More Data Under Climate-Risk Disclosure Proposal
Banks may be expected to disclose detailed data on their exposure to climate risks under new proposals by the banking standards-setter, despite its expressed concern over the suitability of current datasets. The Bank of International Settlements’ Basel Committee has published its outline approach to protecting lenders and investors from the channelling of funds to potentially…
Apex Group to Help Private Markets With MJ Hudson ESG Purchase
Apex Group will harness the ESG data and advisory firepower of its recent acquisition to capitalise on an expected surge in reported sustainability data in its services to private markets, which account for at least a third of financial institutions’ investments. The investor services company’s purchase of MJ Hudson’s ESG software and advisory team boosts…
S&P-Oliver Wyman Tie-Up Adds Physical Risk to Climate Data Service
S&P Global Market Intelligence has added climate-related physical risk metrics to its Climate Credit Analytics tool in a tie-up with management consulting firm Oliver Wyman. The product will be powered by S&P Sustainable1 data on more than 20,000 companies to help financial institutions assess their portfolio exposure to the risks associated with climate change. Climate…
EthicsAnswer Creates ESG-Trained AI to Ease Disclosure Pain
A SaaS platform is using generative artificial intelligence (GenAI) to significantly reduce the burden of sustainability disclosure requests from investors and other stakeholders faced by chief sustainability officers (CSOs). Welsh company EthicsAnswer says its GenAI product will substantially reduce the time it takes for CSOs to complete ESG surveys and will improve accuracy. The tool is backed by a large-language model (LLM) that is trained on more than 46,000 publicly…
Financial Institutions Turn to AI and Cloud to Solve Data Challenges
Financial institutions are undergoing digital transformations that are seeing them harness the full potential of the huge volumes of data they generate. Importantly, to do that they are deploying the technologies that are already defining our era – artificial intelligence (AI) and the cloud. From streamlining back-office processes to informing front-office decision making, and from…
New Nature Data Disclosures Expected Under TNFD Proposals
A landmark report is expected to see stringent data disclosure rules placed on financial institutions to reduce their exposure to risks posed by biodiversity loss and help them direct capital to companies and projects that can restore waterways, forests and other natural features lost to human activity. The Taskforce for Nature-related Financial Disclosures’ (TNFD) final…
The Evolution of Enterprise Data for ESG
Until recently, ESG data was regarded as a peripheral concern among data managers. Today, it is a vital part of an institution’s operations, needed by front- and back-office teams, putting huge new responsibilities on chief data and sustainability officers. Incorporating this new generation of data into institutions’ infrastructures, however, has been a challenge. Many on-prem…
FinTech Veterans Create Data, Technology and Services ‘Ecosystem’ to Solve Regulatory Challenges
The battery of ESG and financial regulations introduced in the past few years – and the future rules already in an advanced state of preparation – are weighing on institutions as the threat of censure for breaches increases. But a team of FinTech specialists has come up with a novel approach to helping all parties,…
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…
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….