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Financial services firms engaging in a centralized platform can expect a standardized overview of their ESG performance.
The insights provided by this platform aim to facilitate compliance with ESG regulations, while also facilitating how other organizations contribute sustainability data to the financial sector.
VERA gathers information from a variety of sources, including data reported directly by companies, as well as external sources such as media reports, judicial information, and supply chain operations.
Standardized information helps financial services organizations gain an overview of ESG factors and performance, and establish how best to comply with regulations.
Debuting in Iceland and following the rest of the world globally, the platform is compatible with non-financial companies and can be used to conduct supplier assessments to determine the ESG performance of their supply chains.
Providing ESG information to financial services strengthens the presence and engagement of financial institutions, especially in markets where sustainability data is typically limited, commented the firm’s director of sustainability. doing. Rayneil Sumali Atlasson.
This is not only an ethical decision, it is also a practical decision. Various markets do not have the regulations in place to hold companies accountable, he continues. “
The VERA platform follows Creditinfo’s own sustainability policy as the next step in its overall ESG strategy.
The company’s goal of facilitating better decision-making in financial services and making more funds available to underserved SMEs, businesses and individuals with no credit rating is a global social responsibility. It means playing a key role in sustainability and transparency of environmental and social transactions across the region. Should be a fundamental part of this.
The company plans to publish its first sustainability report evaluating performance areas against its sustainability policy in 2023.
Our ESG data platform and sustainability policy are just the first steps in understanding and addressing our wider external influences, and to help others do the same, said the company. added the CEO of Paul Randall.
Not only do we need to ensure compliance with regulations in this area, but there is also a responsibility for individual companies to be proactive when it comes to innovating in a sustainable and responsible way.
We are ready to lead by example here and are very excited about the ESG data platform and sustainability policies that will ensure Creditinfo and other financial services are on track and compliant with regulations. increase.”
