G-SIB expands its Adenza solutions set for ESG reporting
American multinational investment bank and financial services holding company selects Adenza’s award winning ESG solution for Europe now, and futureproofing for the global rollout.
Compelling Event and Decision Drivers
As the world grapples with the climate crisis, corporations have moved from simply reacting to more proactively courting the public’s approval. This shift led many market participants to explore their own initiatives to promote long-term sustainability and achieve economic growth, which has resulted in a patchwork of constantly evolving environmental, social, and governance (ESG) rules, locally and globally.
Today, regulators have added clarity by incorporating standardized ESG metrics into every aspect of the financial system and global trends are getting clearer. However, as with any emerging regulatory requirement, there is little consensus among institutions as to what constitutes best ESG practices in terms of data requirements, collection, and accuracy, or how to integrate the critical information required.
For this longstanding client, the answer was simple – Adenza’s broad range of solutions that enable consistency across financial regulatory, capital, and ESG reporting. To quickly resolve its initial Europe-driven ESG regulatory requirement, the client simply added the required ESG data while leveraging data already mapped to Adenza’s solutions. This solution not only enabled the client to leverage a past investment in the ControllerView® platform but also futureproof itself. Since the ESG requirements are now being rolled out in jurisdictions outside EMEA, the client will be able to scale for the US and Canada, etc., as those regulations come online – on single platform.
Adenza’s Environmental, Social, and Governance Offering
The antithesis of a black box, the AxiomSL ControllerView platform delivers transparency across fully automated processes from data ingestion to report submission, enabling clients to meet a range of regulatory reporting requirements in a single integrated platform, regardless of jurisdiction. This data driven enterprise platform also seamlessly delivers the workflow automation and controls, validation, calculation, drilldown, unique dynamic data-lineage and traceability, analytic dashboards, and reporting that stakeholders require.
This data dictionary-driven ESG disclosure solution incorporates counterparty, position, other asset and liability data, and reporting level data points. It comprises source data mapping, coveredreporting templates mapping, allocation rules, aggregation logic, entity streams, and dashboard UI components.
The Benefits
In addition to the differentiating characteristics mentioned above, the solutions deliver a range of benefits including:
- Consistent mapping of ESG factors to products and accurate bucketing classifications.
- Seamless ingestion of diverse sources including client-native, third-party, market, rules, and regulatory data to deliver on end-to-end process for holistic ESG risk management, compliance, and regulatory reporting.
- Data-agnostic, extendable framework scales for compliance with new geographies and lines of business.
We’re excited that this G-SIB, that has already taken advantage of many capabilities including our AxiomSL ControllerView® data management and regulatory reporting platform, has expanded into the burgeoning ESG regulatory landscape with us.
Recognizing that many required datapoints already emanate from financial/statistical regulatory reporting, clients see adding our ESG solution as an efficient yet strategic move.
- Gaurav Chandra, Managing Director, Head of Product Management, OT&T, Regulatory Solutions Research & Development, Adenza
