TradeSun Acquires Renowned ESG Firm

Published on:
by KnowESG
KnowESG_Tradesun_ESG
Picture of Tradesun expanding ESG capabilities with acquisition of renowned ESG firm.

TradeSun, a leading provider of AI solutions for trade compliance and automation, acquired data company Coriolis Technologies to speed up ESG-compliant trade.

The strategic acquisition will help TradeSun's global and regional bank network to grow through additional innovation in trade and supply chain. It follows a partnership deal signed earlier this year between TradeSun and Coriolis.

TradeSun will now offer Coriolis' ESG services, such as the independent ratings-based platform it built with more than 50 financial institutions. The platform ranks, tracks, and evaluates supply chain participants based on the 17 United Nations Sustainable Development Goals and other important regulatory frameworks like the EU Taxonomy. It increases supply chain transparency by assessing the environmental, social, and economic impact of all trade supply chains.

The acquisition is the first stage in TradeSun's growth strategy, catalysing the company's goal of seamless, digitalised, and more sustainable trade flows that enable regions and their people to develop.

Dr Rebecca Harding, Coriolis Founder, will continue to serve as a strategic advisor.

Nigel Hook, TradeSun CEO and Founder said: “With regulations evolving fast to mandate sustainable commerce, banks will increasingly play a more central role in facilitating and guiding the trade ecosystem to adopt more sustainable practices.”

He added: “Dr Rebecca Harding and I concur that with sustainable financing becoming more prevalent, parties across the trade ecosystem will naturally strive to gain better ESG scores. The acquisition will support both financial institutions and supply chain players to assess and modify their businesses to meet industry and sovereign ESG goals.”

Dr Rebecca Harding said: “Global trade must have the tools to better measure ESG impact to meet the increasingly ambitious sustainability targets set by governments and industry. The vision and plan for automated ESG scoring and more sustainable trade will be helped and moved forward by the purchase of Coriolis. This is an exciting development and a significant measure of the importance of ESG in trade finance.”

For more regulatory news

Source: TradeSun

Share:
esg
esg
esg
esg

Regulators Headlines

Closing the Climate Gap: How the SBTi Revision Impacts Corporate Net-Zero Plans

Closing the Climate Gap: How the SBTi Revision Impacts Corporate Net-Zero Plans

Trump Backs 24 States Suing New York and Vermont Over Climate Liability Laws

Trump Backs 24 States Suing New York and Vermont Over Climate Liability Laws

Businesses Call for UK–EU Carbon Market Connection

EU to Expressly Set Out Sustainability Reporting Rules by October

Trump’s Support for Seabed Mining Draws EU Criticism

EU Moots Plans to Ban Carbon Fibre by 2029

PwC: Singapore's Sustainability Legal Services to Triple by 2033

SBTi Releases Revised Corporate Net-Zero Standards for Public Input

Research: European ESG Funds Invested Over €123B in Fossil Fuels

Australian Super Fund Active Super Fined $10.5M Over Greenwashing