Global financial technology firm Broadridge Financial Solutions has launched a new environmental, social and governance (ESG) disclosure and data analytics comparison tool.
Called ESG Analyser, the new web-based ESG disclosure and data analytics benchmarking tool promises to deliver timely, high-quality, cost-effective, transparent data and insights.
This supports companies seeking to improve their ESG strategy and practices, and allows them to benchmark their ESG performance relative to their industry and peer groups, the New York-based company says.
Through the ESG Analyser, companies can view all of their ESG metrics on a single dashboard, compare their data side-by-side with peers to better understand how stakeholders are viewing their ESG performance.
Broadridge says the ESG tool, which leverages artificial intelligence to deliver aggregated data, is more time-efficient and cost-effective than other existing methods of accessing and analyzing data.
The tool compares company policies and disclosures from more than 385 ESG topics and incorporates more than 2 million data points across a broad range of ESG and sustainability topics including categories such as: environmental: energy and climate change, policy and reporting, resource management; social: community development, product, human rights and supply chain; and governance: board, leadership ethics, transparency and reporting.
Broadridge says the Analyser also tracks disclosures across leading ESG frameworks including: Sustainability Accounting Standards Board, Global Reporting Initiative, Task Force on Climate-Related Financial Disclosures, Sustainable Finance Disclosure Regulation, and United Nations Global Compact.
Commenting on the new comparison service Joseph Vicari, vice-president and practice lead, corporate issuer, at Broadridge, says: “This is the perfect tool for management to understand their strengths and weaknesses on ESG issues, enabling them to see how they compare to peers and create a plan to improve their performance and disclosures where needed.”