Users of TietoEVRY’s WealthMapper platform will now be able to see Environmental, Social and Governance (ESG) scores across their investment portfolios.
The introduction of the ESG scores will see the scores broken down into the 17 United Nations Sustainable Development Goals to help investors understand where they are investing and the impact those investments may have.
The WealthMapper platform allows its users to leverage a range of partners within the platform’s ecosystem to deliver new retail wealth management services. The platform also provides its users with a complete picture of their wealth, what is accessible and which actions to take.
Customers of the WealthMapper platform will be able to provide end-users with ESG scores across their portfolios. From this, users will then immediately be able to see the ESG performance of their holdings as well as what environmental and social issues they may be exposed to.
According to TietoEVRY, this new partnership comes as a response to regulatory changes as governments worldwide implement new standard processes and incorporate ESG requirements into laws and regulations.
Currently, FinScience collects two million pages, documents, and other sources of information on a daily basis. The company’s AI analyses such information to offer accurate ESG scores that represent a company’s real-time ESG performance.
TietoEVRY head of insurance and wealth solutions Sameer Datye said, “Incorporating these ESG scores into the WealthMapper platform will provide additional value to our customers and strengthen our position as a sustainable organisation that delivers new services, concepts and innovations to the market. The Nordic region is a leader when it comes to sustainability and this partnership will allow TietoEVRY and its customers to stay at the forefront of this trend
FinScience international business manager Paul Holleran added, “With TietoEVRY we are aligned on the fact that measuring ESG performance only through traditional in-bound information could lead to an incomplete assessment, as data is partial, and the nature of such disclosure is strictly connected to the particular reporting framework chosen by the company.
“Therefore, integrating this assessment with the analysis of great amounts of external alternative data generated by company stakeholders provides a more complete picture of corporate ESG performance.”
ESG continues to be a hot topic across the financial world. In November last year, ESG data science enterprise RepRisk teamed with financial services provider the Apex Group to expand access to material ESG risk data for private markets participants.
Earlier in 2020, the European Banking Authority (EBA) issued an online survey to credit institutions to offer guidance on the disclosure of information on ESG risks. The survey aims to support the EBA’s policy work on Pillar 3 disclosure and its wider efforts of building robust policy framework in sustainable finance.
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