Euroclear, one of the world’s biggest settlement systems for stock and bond trades, has bought an undisclosed stake in fintech Greenomy to help firms meet new rules on reporting their environmental impact.
The European Union is rolling out mandatory environment, social and governance (ESG) reporting requirements to make it easier for investors to compare information regarding the impact of climate change and other factors on on asset manager and companies.
Founded in 2020, Greenomy helps corporates, credit institutions and asset managers comply with the EU sustainable finance disclosure regulation digitalising the data capturing and reporting process.
The company also provides data analytics features to help improve sustainability performance and facilitate the redirection of funds towards sustainable activities, in line with the objectives of the EU Green Deal.
Greenomy will also gradually integrate other non-EU Green Taxonomies to offer users a one-stop solution for their global operations.
The ESG data from issuers captured by the platform will also support the asset manager segment’s reporting needs including Euroclear’s FundSettle, MFEX and iETF clients.
“Euroclear is highly committed to building a sustainable marketplace through enhancement of its capabilities, strategic partnering and investments,” said Lieve Mostrey, CEO Euroclear Group. “Greenomy has a strong and compelling ESG value proposition with its unique market position, data model and an end-to-end platform which connects issuers, banks and investors.
She added, “This is a truly complementary partnership that enhances the services and products of both companies. We look forward to working with Greenomy to help it grow and become a global ESG market infrastructure utility with a far reaching and diverse ecosystem.”
Alexander Stevens, CEO Greenomy said, “Together with Euroclear and future partners, we aim to bridge the gap between existing and new ESG taxonomies and standards, offering a new global market infrastructure, supporting both issuers and financial institutions in their sustainability strategy. This will ultimately help real economies transition faster towards a truly sustainable future.”
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