As the need to lessen the effects of climate change grows, banks and insurers are facing new problems. Deloitte and Persefoni are working together to launch a new integrated solution that will help companies evaluate their exposure to climate change, follow new rules, and make better decisions based on data.

Persefoni is a climate management and accounting platform (CMAP) that provides businesses, financial institutions, and government agencies with the software fabric they need to manage their climate-related data and performance with the same level of assurance as their financial reporting systems.

Users can quantify their carbon footprint, execute climate trajectory modelling aligned with the Paris Agreement's temperature rise scenarios, and benchmark their impact by region, sector, or peer group using the company's software solutions.

Deloitte has teamed up with Persefoni in a strategic way to help its clients get to net zero. The cooperation will see the firms develop analytics solutions for the banking and insurance industries, assisting organisations in the industry in finding a new way for measuring, disclosing, and controlling their operational and financial carbon footprints as part of their climate journey.

Ricardo Martinez, Deloitte Risk & Financial Advisory’s sustainability, climate, and equity practice leader, for financial services, said:

“Leveraging the rich data in Persefoni’s platform alongside Deloitte’s related analytics and services, we can help organisations through their end-to-end ESG transformation. As banks and insurance organisations look to address carbon accounting requirements by understanding and evolving the financed emissions in their portfolios, our shared clients will be able to chart those financed emissions, analyse critical business risks, identify opportunities to enhance the composition of their financed portfolio, and prepare to meet their disclosure and reporting obligations.”

Persefoni and Deloitte's shared clients can now use Persefoni's software platform as well as Deloitte's deep understanding of environment, social, and governance (ESG) practices and financial analytics to help address their sustainability and climate goals as the chiefs of sustainability and finance work together to address their CMAP needs.

As part of the cooperation, Deloitte has also developed and integrated accelerators, analytics tools, and capabilities to assist clients in the financial services industry in understanding risks and value-creation potential based on funded emissions portfolio data.

Governments, regulators, and the capital markets are putting more pressure on the financial services sector, and banks of all sizes are moving toward disclosing their operational and financed emissions footprints. Developing extensive CMAP use will be crucial as banks and insurers try to reach their net zero goals and effectively limit their climate exposure, especially as ESG disclosures become more formalised and regulated.

“Persefoni is excited to formalise our alliance with Deloitte, a global leader in sustainability, climate, and equity strategy and transformation, and trusted advisor to many of the world’s largest companies and financial institutions,” said Kentaro Kawamori, CEO and co-founder of Persefoni. “Enabled by Persefoni’s best-in-class technology platform and Deloitte’s leading sustainability, digital transformation, risk, advisory, and reporting services, our shared clients in the banking and insurance sectors will have access to the best possible support on their climate journeys — from meeting compliance requirements to analysing climate exposure within their portfolios and optimising business strategies.”

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Source: Consultancy.uk