• Analysts can save up to 12 hours less time when producing ESG reports.
• The solution has four important features, including a greenwashing monitoring tool.
• AI is being employed to analyse and interpret ESG data compiled from different sources.

Now, businesses can save enormous amounts of time with a new ESG reporting solution developed by GaiaLens, a London-based sustainability analytics platform.

Financial institutions ordinarily spend thousands of hours every year to bring out the best environmental, social, and governance (ESG) reports that assess how responsible and sustainable their investments are, to comply with the evolving ESG regulations and to meet the requirements of investors.

GaiaLens’ solution includes a back-end system that integrates different ESG data sources and consolidates everything in one place. This ensures that the data collated is accurate and reliable, as well as scalable for analysis.

READ MORE: What is Sustainability Reporting? Meaning, Types, and Benefits

GaiaLens COO and co-founder Seb Kirk said: “In the current climate, asset managers and analysts shouldn’t settle for an off-the-shelf solution. We’re challenging the ‘one size fits all’ approach by putting the user at the forefront of our reporting solutions, and it’s already translating into tangible results for users."

To enrich the user experience, the company provides customised dashboards and reporting tools that come in handy for analysts and asset managers to access and interpret ESG data more easily.

Their solution has four principal features: first, GL Report, which automatically generates sustainability reports in line with top global reporting frameworks such as the Sustainable Finance Disclosure Regulation (SFDR) and the Task Force on Climate-related Financial Disclosures (TCFD).

Second, it offers GL Chat, an artificial intelligence (AI) chatbot that analyses data directly from reports and PDFs.

Third is the Controversy Alerts feature, which uses AI to spot ESG controversies in investments.

Finally, a Greenwashing Analytics tool to identify greenwashing tactics used by businesses.

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The solution is particularly useful for larger financial institutions that generate over 500 ESG reports annually, saving them more than 6,000 working hours each year.

"Our Bespoke Solution saves analysts up to 12 hours per report on average. When you consider that larger financial institutions can have upwards of 500 investments in different companies or funds, this translates to thousands of hours saved a year, saving time that can be spent on more strategic work", Kirk concludes.

Ends/

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Source: funds europe