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APAA ESG Risk Guide Stops Short of Mandatory Disclosures
The Australian Prudential Regulatory Authority has become the latest overseer to issue a guidance on banks’ management of climate risks in their portfolios. While its latest guidance offers advice on how institutions should approach the issue, it does not advocate mandatory ESG disclosures. Instead, the regulator said lenders should consider whether other “voluntary disclosures could…
Banks, Institutions Back ESG Book’s Free Data Project
An alliance of global banks, institutions and investors has launched ESG Book, a free source of information that its creators say will make sustainability data a public good. Companies will be able to freely access the data lake to help them report on their own ESG records and financial institutions will be able to use…
Confluence Bolsters Equities Analytics with AlphaBetaWorks Tech
ESG-data analysis specialist Confluence Analytics said it has enabled greater refinement of equities risk research with the integration of technology provided by AlpahBetaWorks. Pennsylvania-based Confluence said the deal would enable higher-level ESG risk modelling to be included in its ESG Signals and ESG KPI Forecasts products. The upgraded offerings “will address critical shortcomings of legacy…
Demand for muni ESG data is growing
Extreme weather, Covid and political unrest in recent years has focused investor attention on the ESG risks inherent in US municipal bonds. According to a recent survey by Bond Buyer, demand for information on muni issuers’ exposure to climate and other risks is growing. It found that 56 percent of 186 financial market participants and…
New TCFD Reporting Guideline Updates Welcomed
The first update to the Task Force on Climate-related Financial Disclosures’ (TCFD) guidelines since their drafting in 2017 has been welcomed across the ESG ecosystem as an important step in bringing clarity and rigour to corporate disclosures. The new measures were published with the TCFD’s latest annual status report, which showed that the number of…
Sustainalytics’ ESG Data Now Available on Bloomberg Terminal
Bloomberg has added Sustainalytics’ ESG Research and Ratings service to its terminal data product as the New York-based giant gears up its sustainability offering to financial institutions. Morningstar-owned Sustainalytics will supply its Risk Ratings data and Controversies Research reports, giving Bloomberg customers access to ESG risk management information and details on ESG-related incidents involving any…
Banks Concerned as BoE Climate Stress Tests Highlight ‘Data Gaps’
The UK’s biggest banks and insurers are said to have been shocked by initial results of stress tests they’ve conducted into their resilience to climate-related financial risks. Not only did they find the exercise difficult, some also found discrepancies in their findings. Now chief data officers (CDOs) have been summoned to examine whether the organisations…
Data an Obstacle to Banks’ ESG Reporting, Says Acin
Banks and asset managers are failing to deal with climate risks adequately, according to a survey whose authors said a lack of “true, fair, accurate, honest and comprehensive” data was partly responsible. Risk and control data standards provider Acin said only 19 per cent of 63 global organisations surveyed on their preparedness to meet climate-related…
ESG Data Sector Optimistic About Meeting Investor Demand for Greater Portfolio Transparency
The growing hunger for information on investment portfolio’ ESG positions will lead to much-needed improvements in data quality, analytics and, ultimately, levels of disclosure. That was the message from leading market participants at A-Team Group’s ESG Insight briefing this week, which took a snapshot of the sector at a pivotal time for corporate responsibility, as…
SS&C Launches ESG Reporting Platform as Managers Come Under Transparency Pressure
SS&C Technologies has unveiled a new ESG reporting platform to help asset managers meet rising investor demand for transparency into their portfolios’ sustainability risks. The product was developed from the alternative asset administration giant’s NAV Transparency reporting solution. While data will initially be provided by ESG intel vendor Sustainalytics, SS&C says its new service can…