Featured Product

    GLEIF on Using LEI for ESG Reporting and Adding LEI Datasets to AWS

    January 27, 2022

    The Global Legal Entity Identifier Foundation (GLEIF) published the monthly report that analyzes the overall data quality in the Global LEI System. In addition, GLEIF published an article that discusses why ensuring a holistic entity identification mechanism through a global standard, such as the LEI, is a foundational step toward consistent, compatible and transparent environmental, social, and governance (ESG) reporting and data exchanges. Another article focuses on the Amazon and OS-Climate partnership, which intends to add LEI datasets to Amazon’s Sustainability Data Initiative (ASDI) open-data catalog and is working to improve global sustainability data modeling, mapping, and calculations as well as the expected impact on climate finance risk and opportunity evaluations.

    The LEI data is critical to helping businesses assess climate change-related risks of their investments. Having this type of information next to other foundational datasets in the cloud, along with access to computational capabilities, can help streamline the risk assessment process. In this collaboration, GLEIF retains complete control and ownership of data in the Amazon Web Services cloud, but all costs related to data storage and egress are covered by the ASDI program. GLEIF is committed to managing the data and making it openly available to anyone. Groups like OS-Climate, Allianz, and BNP Paribas are then able to access the LEI dataset on the AWS cloud and use it more effectively to get better insights into the transitional and physical climate risks of their financial investments.

    Coming back to the article that discusses the qualities of LEI that position it perfectly to deliver the missing components of a robust, efficient, and effective global ESG discovery and reporting framework, GLEIF suggests that the LEI can also help to streamline data collection, aggregation, and analysis of ESG risks for private unlisted companies, where there is less systematic coverage compared to publicly listed companies. The article highlights that inclusion of LEI in the due diligence checklist by ESG ratings and data products providers can help to assess the information and screen inconsistencies during pre-validation phase while contributing to informing the investment decisions of investors. GLEIF suggests that the existing challenges in accessing reliable, comparable, and relevant data that inform on sustainable risks, opportunities, and impact can be greatly reduced by ensuring that ESG data submission starts with the mandatory unique and unambiguous identification of legal entities by the LEI. 

     

    Related Links

     

    Keywords: International, Banking, Insurance, Securities, Climate Change Risk, Sustainable Finance, ESG, LEI, Reporting, Data Collection, Data Quality Report, Regtech, ASDI, AWS, GLEIF

    Featured Experts
    Related Articles
    News

    BIS Bulletin Examines Cognitive Limits of Large Language Models

    The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.

    January 25, 2024 WebPage Regulatory News
    News

    ECB is Conducting First Cyber Risk Stress Test for Banks

    As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.

    January 24, 2024 WebPage Regulatory News
    News

    EBA Continues Momentum Toward Strengthening Prudential Rules for Banks

    A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.

    January 24, 2024 WebPage Regulatory News
    News

    EU and UK Agencies Issue Updates on Final Basel III Rules

    The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards

    December 19, 2023 WebPage Regulatory News
    News

    Industry Agency Expects Considerable Uptake for Swiss Climate Scores

    The Swiss Federal Council recently decided to further develop the Swiss Climate Scores, which it had first launched in June 2022.

    December 18, 2023 WebPage Regulatory News
    News

    BCBS Consults on Disclosure of Climate Risks, Issues Other Updates

    The Basel Committee on Banking Supervision (BCBS) launched consultation on a Pillar 3 disclosure framework for climate-related financial risks, with the comment period ending on February 29, 2024.

    December 18, 2023 WebPage Regulatory News
    News

    US Government Moves to Regulate Development and Use of AI Models

    The U.S. President Joe Biden signed an Executive Order, dated October 30, 2023, to ensure safe, secure, and trustworthy development and use of artificial intelligence (AI).

    December 18, 2023 WebPage Regulatory News
    News

    MAS Launches Gprnt Digital Platform for ESG Reporting for SMEs

    The Monetary Authority of Singapore (MAS) launched an integrated digital platform, Gprnt, also known as “Greenprint.”

    November 29, 2023 WebPage Regulatory News
    News

    EBA Finalizes Templates for One-Off Climate Risk Scenario Analysis

    The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.

    November 28, 2023 WebPage Regulatory News
    News

    NGFS Publishes Phase IV Long-term Climate Scenarios for Banks

    The Network for Greening the Financial System (NGFS) published its latest set of long-term climate macro-financial scenarios (Phase IV) for assessing forward-looking climate risks.

    November 28, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8947