As new rules on ESG and Net Zero continue to be brought forward by politicians, activist groups and regulators around the world, it is increasingly important to automate as much compliance as possible. Insurance brands are already required to check their supplier and client Net Zero credentials and this cross-referencing and box-ticking is bound to increase over time. Going forward it’s obvious that wasting time doing this job manually could impact the bottom line for brokers, insurers and MGAs alike. Here’s the word from Broadridge in the USA;
A company’s Environmental, Social and Governance (ESG) practices and their associated ratings have become important elements of a company’s reputation and crucial measurements for management, board members, investors, analysts, regulators, customers and employees. Understanding the drivers of ESG reputation and ratings is a complex, onerous and costly process. To enable companies to better understand how they compare to their chosen peers and their industry and to help them improve their ESG strategy and practices, Broadridge Financial Solutions, Inc. (NYSE:BR) is introducing ESG Analyzer, a new web based ESG disclosure and data analytics benchmarking tool that delivers timely, high-quality, cost-effective, transparent data and insights.
“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,” said Joseph Vicari, Vice President and Practice Lead, Corporate Issuer at Broadridge.
Simplifying the ESG Strategy
The ESG Analyzer allows companies to seamlessly view all of their ESG metrics in a single dashboard, compare their data side-by-side with peers companies to better understand how stakeholders are viewing their ESG performance. Easier access and a clear view of this comprehensive data and insights will help companies to better manage an effective and impactful ESG strategy. Furthermore, the ESG Analyzer, which leverages AI to deliver aggregated data, is more time efficient and cost effective than other existing methods of accessing and analyzing this data.
Comparative Analysis
Broadridge’s new ESG Analyzer will empower companies to compare how their ESG performance and disclosures measure up against their chosen peer groups and industry. This will enable companies to improve their ESG prioritization and required resources and better inform their disclosure strategy by providing comparative data that provides perspective.
For more than 5,000 companies in North America, the ESG Analyzer compares company policies and disclosures from more than 385 ESG topics including categories like:
- Environmental: Energy & climate change, policy & reporting, resource management
- Social – Community: community development, product, human rights & supply chain
- Social – Employees: compensation & benefits, diversity, labor rights, training, health & safety
- Governance: Board, leadership ethics, transparency & reporting
Examples of questions and topics that a company might wish to search include:
- How does the company compare on its total direct emissions (MTCO2e)?
- How does the company compare in how it fosters employee engagement in voluntary community work?
- How does the company compare on average hourly wages for hourly employees?
- How does the company compare in percentage of females on the board of directors?
Better Line of Sight
ESG Analyzer also tracks disclosures across leading ESG frameworks including:
- SASB: Sustainability Accounting Standards Board
- GRI: Global Reporting Initiate
- TCFD: Task Force on Climate Related Financial Disclosure
- SFDR: Sustainable Finance Disclosure Regulation
- UNGC: United National Global Compact
Click here to learn more about the ESG Analyzer
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