TradeSun and Coriolis Launch Trade Finance ESG Rating
TradeSuna technology company that leverages artificial intelligence for business compliance and automation, and Coriolis Technologiesa provider of business data and analytics, has partnered to launch an integrated solution for banks to measure and verify the environmental, social and governance (ESG) performance of business transactions.
As regulators pressure companies to disclose more details on ESG performance, quantitative methods for analyzing the impact of trade finance activities are key to achieving regional and international sustainability goals. .
The combined solution enables TradeSun’s clients to leverage Coriolis’ ESG Tracker, an independent ratings-based platform developed with over 50 financial institutions, to score, monitor and verify their trade finance transactions and activities against the 17 Sustainable Development Goals (SDGs), as defined by the The United Nations.
Banks can also view ratings against national and international regulatory frameworks such as the EU Taxonomy, Sustainable Finance Disclosures Regulations, and US Accounting Standards Board Regulations for Sustainability. Additionally, financial institutions can research and explore corporate ratings for governance purposes, including conducting personnel audits.
TradeSun customers will be able to use the Coriolis ESG Tracker in tandem with other integrated data partners, providing greater insight, flexibility and helping financial institutions offer financial incentives to their clients when they meet specific ESG criteria.
Hook Nigel, CEO of TradeSun, said, “Data analytics and better visibility into trade are key to achieving the UN SDGs. We are excited to work with Rebecca and her team to support more sustainable commerce through thoughtful interpretation of data. Regulators are warning that increasing ESG risk transparency must be a priority for companies – and the only way to do this is through more quantitative ways to measure risk across the global financial system.
Rebecca Harding, CEO of Coriolis Technologies, said, “TradeSun’s innovative approach to digitizing commerce is a perfect fit with Coriolis Technologies’ ambition to make the complex nature of commerce accessible to everyone, driving economic prosperity for businesses, countries and their people. TradeSun’s use of AI solutions as a client empowerment mechanism aligns with our approach of using cloud-based data aggregation to advance global business processes. Collaboration is essential for successful and applicable sustainability assessments, which is why we are extremely excited to partner with TradeSun.