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The views and opinions expressed in this article are those of the thought leaders as individuals, and are not attributed to CeFPro or any particular organization.
By Regnology
In a recently published interview, Regnology Product Director Erik Becker shares his view on ESG roadblocks and trends. Becker also describes the advantages of having one single data model used by all reporting, finance and risk applications. Especially, if the data model itself already has most of the data needed for effective ESG reporting. With climate related change and sustainability issues becoming ever more crucial for banks, the ESG financial market will thus continue to grow exponentially.
As Becker notes, ESG investment clients look to invest with a `sense of purpose`, which means that financial institutions will, by imperative, need to provide transparent reporting KPIs. Therefore, what is crucially important is that banks embed ESG criteria into their existing processes, and that they also centralise ESG data while integrating it into their central data storage facilities. The banking business will need to take climate and ESG risks into account on an increasing basis, and especially in key areas like investment products, portfolio and credit management. As Becker points out, ‘banks will benefit significantly by implementing a tailored integration of such risks into their framework for risk management.’
If you are interested in the full interview or would like to learn more about the ESG disclosure module of Regnology’s flagship solution Abacus360 Banking, please visit the following website.
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