TradeSun, a leading AI-powered trade compliance and automation platform, has joined forces with data and analytics provider Coriolis Technologies to introduce an innovative environmental, social and governance (ESG) solution. This collaboration aims to provide banks with an integrated tool to measure and verify ESG performance in trade transactions, addressing the growing regulatory pressure for enhanced ESG disclosures.
The partnership between TradeSun and Coriolis Technologies will result in the development of an integrated solution designed for banks. This solution enables the measurement and verification of ESG performance across trade transactions, offering a comprehensive assessment of environmental, social and governance factors.
By leveraging Coriolis’ ESG Tracker, a ratings-based platform developed with the input of over 50 financial institutions, TradeSun customers can effectively score, monitor, and verify their trade finance transactions against the United Nations’ 17 Sustainable Development Goals (SDGs).
Banks utilising the integrated ESG solution will have access to ratings against both domestic and international regulatory frameworks, including the EU Taxonomy, Sustainable Finance Disclosures Regulation, and US Sustainability Accounting Standards Board Regulations. Additionally, financial institutions can conduct company ratings searches for governance purposes, including personnel checks. This comprehensive approach provides banks with greater visibility, ensuring compliance with regulatory requirements and facilitating informed decision-making.
TradeSun customers can combine the ESG Tracker with other integrated data partners, enhancing flexibility and enabling financial institutions to offer financial incentives to clients who meet specific ESG criteria. The integrated solution empowers banks to encourage sustainable practices among their clients by aligning financial incentives with ESG performance.
