CRIF bolsters ESG assessment for UK banks with new analytics tool


CRIF, Europe’s leading provider of consumer and business credit information, has introduced a pioneering data repository and scoring service.

This innovation enables UK banks to efficiently evaluate the environmental, social, and governance (ESG) profile of their UK and EU-based suppliers, partners, and customer portfolio.

The launch of ESG Analytics by CRIF addresses the growing need for banks and financial institutions to assess and mitigate their environmental impact and enhance their governance and social responsibility practices. With over 130 key indicators sourced from UK and EU databases, the tool provides a comprehensive analysis covering aspects such as water usage, waste production, emissions, and inclusiveness among others.

CRIF’s role in the financial sector is crucial. With more than three decades of experience in advanced analytics, the company specializes in providing consumer and business credit information across Europe, alongside offering global decisioning solutions. This expertise is now being leveraged to support financial institutions in their sustainability journeys.

The ESG Analytics tool simplifies the process of ESG evaluation. Financial institutions can obtain an ESG score along with detailed environmental, social, and governance indicators for any UK or European business by simply entering their VAT or registration number. This approach facilitates the identification of sustainable and ethically conscious business partners and supports banks in issuing green finance, amongst other benefits.

CRIF’s commitment to sustainability and regulatory compliance is evident in its ESG Analytics solution. The tool not only helps banks meet stakeholder and regulatory expectations but also addresses the UK’s lack of a unified ESG regulation by aligning with current and future policy directions.

The UK’s evolving regulatory landscape, including the Edinburgh reforms, underscores the importance of ESG compliance. CRIF’s ESG Analytics, along with its existing Synesgy service, provides a robust framework for businesses to understand and act upon ESG implications, thereby fostering a sustainable and transparent financial ecosystem.

CRIF’s Regional Director for the UK & Ireland, Sara Costantini, emphasized the critical role of financial institutions in environmental stewardship, “There’s no doubt that protecting the environment for future generations is the number one most pressing challenge for individuals, businesses, and governments today.” She highlighted the tool’s capacity to support banks in making informed decisions towards a greener economy and ensuring ESG compliance.

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