Finance Grappling with ESG Data Management

Respondents to a Bloomberg survey have shared their struggles to manage rapidly evolving ESG data. Of the 200 European financial market participants surveyed on ESG data prioritisation and challenges, 41% cited ESG data management as the biggest challenge, followed by lining ESG data to existing entity and instrument data (25%), meeting reporting requirements (18%), and managing multiple ESG vendor feeds (16%). A third also said they managed their ESG data centrally with a proprietary solution, while 32% managed it individually by each business unit. The remainder either outsourced data management to a third-party vendor, or were still considering their strategy. In addition, 33% of respondents said that fulfilling regulatory requirements was their highest priority for accessing data, followed by meeting climate risk and net-zero objectives (18%). “While quality and comparability remain a global challenge, data management is coming into sharp focus for firms in Europe,” said Nadia Humphreys, Head of Sustainable Finance Data Solutions at Bloomberg.

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