SAP Fioneer, a global leader in financial services software solutions, has unveiled its inaugural software solution designed for ESG data orchestration and calculating portfolio and individual exposure KPIs. This solution not only bridges the data gap essential for banks and insurers to meet ESG compliance requirements but also empowers them to harness valuable business opportunities.
Known as the Fioneer ESG KPI Engine, this groundbreaking software offers complete transparency into ESG-related portfolio data, enabling financial institutions to make informed, sustainable decisions that span across different departments. By providing real-time insights into financed and insurance-related CO2e emissions, it allows financial institutions to identify transition opportunities and avoid greenwashing, thereby enhancing transparency and accountability.
Maria Patschke, CEO of SAP Fioneer ESG Solutions, emphasized the increasing scrutiny on ESG regulatory obligations for banks and insurance companies. With over $90 trillion in Financed Emissions assets disclosed under PCAF, the risk of reputational damage due to greenwashing is significant. The Fioneer ESG KPI Engine covers all asset types and markets, offering clear calculations and simplified data presentation while eliminating the need for manual data entry on spreadsheets. This results in cost and time savings and enables employees to focus on data analysis and identifying new business opportunities to create more sustainable portfolios.
The solution is designed to align with TCFD, CSRD, EU Taxonomy, and provides real-time updates to ensure compliance with evolving regulations, facilitating 2023 reporting with data historization and auditability. Its architecture-agnostic approach makes it compatible with existing financial institution infrastructure, closing data gaps through the PCAF framework and offering consistent value calculations, regardless of data availability.
The Fioneer ESG KPI Engine can be deployed on-premises, as a private cloud instance, or hosted in a public cloud environment, providing flexibility in implementation. This solution marks a significant step toward a greener and more sustainable financial industry, equipping financial institutions with the tools needed to navigate complex ESG regulations and integrate transparency and sustainability into their decision-making processes.
By FCCT Editorial Team
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