As Environmental Social and Governance (ESG) initiatives are at the top of the strategic agenda for organisations, driven by the rapidly growing public awareness of environmental and social impact and regulatory requirements, it is imperative that it is baked into the operational fabric of businesses. Such practices are prevalent in financial institutions as they seek to be, and provide services that are ESG aligned. One key element to achieving this is to properly select and manage ESG data.
Collecting, determining and providing the data that are relevant for sustainability is still a challenge. On the one hand, there are different requirements and ideas about how sustainability is to be measured and evaluated. On the other hand, it is difficult to select the relevant information from the multitude of data sources and to measure the quality of that information. Companies therefore have to define and build a framework for a proper ESG data management.
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