CRIF launches new ESG solution for UK businesses
CRIF, a European provider of digital transformation solutions for the financial services industry, has launched a new ESG solution, Synesgy, to enable UK businesses to analyse the sustainability of their entire supply chain.
CRIF said that Synesgy is based on rigorous references to global ESG market regulations. The reporting data obtained from the questionnaires is checked by an alert system on the platform. If inaccuracies are detected, the system reports the problem for evaluation, where additional information can be requested, ensuring all data is correct and reflects an accurate picture of the companies.
CRIF further explained that Synesgy will allow businesses to easily audit suppliers, enabling them to collect and view ESG reports and view the sustainability ratings of the other businesses that they work with.
CRIF said its strategy around ESG is informed by and aligned with the UN’s 2030 Agenda for Sustainable Development, while drawing on its decade of experience as a credit rating agency in Europe, operating under the European Securities and Markets Authority (ESMA). CRIF is utilising this credit rating experience through decision support systems, data, and insights to bring the same capability to ESG ratings.
As the European Commission officially adopts the European Sustainability Reporting Standards, any business outside the bloc will need to adhere to these standards if it wants do business within the EU. CRIF claims its solution incorporates these latest standards and help ensure all UK businesses that want to conduct business within the EU are fully compliant.
Sara Costantini, CRIF’s regional director for the UK and Ireland, said: “Climate change is the defining challenge of our time, and every one of us has to play our part in protecting the planet for future generations." For businesses, this is no exception. As customers look to companies that are a force for good, it’s crucial that businesses understand both their own ESG performance and that of their entire supply chain.
“At CRIF, our objective is to help businesses navigate the complex world of ESG by utilising data and insights. Through this, we’re helping more businesses put ESG at the heart of their work, and we’re empowering them to play their part in charting a path towards a more sustainable future.”
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