Tech

Neudata Rolls out ESG Data Scouting Tool

Published on: 4 February 2022 09:43 AM
by KnowESG

A Brief Summary

Neudata Scout ESG is a new product under the Neudata Scout line of business that enables global organisations to find, acquire, manage, and evaluate new sources of alternative data aligned with environmental, social, and governance aspects.

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The solution expands on Neudata's current customer base's high demand for ESG data, which includes the world's leading hedge funds, private equity companies, venture capitalists, consultancies, and enterprises.

According to Julia Asri Meigh, Neudata's head of ESG research, these companies are increasingly employing alternative data sources to comply with government laws, fill in disclosure gaps, and construct their ESG rating models. Because many businesses are not compelled by law to make ESG disclosures, the firms that analyse them must rely on other data sources to provide a complete picture of their sustainability operations.

Asset managers, for example, can utilise Neudata Scout ESG to identify datasets to assist them to comply with the EU Sustainable Finance Disclosure Regulation (SFDR) reporting requirements.

"Any EU business with an ESG-labeled investment product must publish specific indicators throughout the EU Taxonomy," Meigh added, "some of which might be difficult to dig down without specialised data scouting tools like Neudata Scout ESG." "These technologies may assist businesses in reporting in accordance with a variety of ESG standards, such as biodiversity and human capital measures."

Companies can also utilise the platform to create their own ESG assessment models. The 400+ ESG-relevant datasets in Neudata Scout ESG are organised according to the 17 Sustainable Development Goals of the United Nations and Neudata's own taxonomy of more granular ESG subcategories.

"The taxonomy developed by Neudata tries to capture all of the granular sustainability topics that may be found in the alphabet soup of ESG standards. Regardless of the ESG framework users use, this tool makes it easy to find relevant datasets "Meigh remarked.

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