FactSet and Alveo have collaborated to address environmental, social, and governance (ESG) data integration requirements for clients.
The venture includes Alveo making FactSet’s ESG data sets available in its data management platform while Alveo’s data mastering and analytics solutions will be included in the Open:FactSet Marketplace.
Alveo focuses on the integration of market and reference data from different sources covering all asset classes such as pricing information, referential information and issuer and corporate actions data.
Jonathan Reeve, senior vice president, head of content and technology solutions at FactSet, notes that solid and scalable ESG data integration has rapidly become a must-have in investment management.
“We are pleased to be working with the Alveo team to help our clients address their financial reference data integration and analytics challenges,” he says.
Mark Hepsworth, CEO, Alveo, adds that ESG is one of the biggest trends impacting investment management and it brings a significant requirement for data and data management technology.
He says, “We are very happy to work with FactSet on this initiative. We have been integrating and mastering reference data for investment managers for many years and ESG is the most recent expansion of that data set. However, clients want to manipulate and create their own opinions and analytics on ESG data.”
In April, the Association for Financial Markets in Europe (AFME) in conjunction with law firm Latham & Watkins, launched a report – The European ESG Disclosure Landscape for Banks and Capital Markets – highlighting the need for financial institutions to have access to consistent non-financial reporting from corporates in order to support the transition to a low-carbon economy.
They report called on policymakers and regulators to build a coherent framework to support sustainable finance by prioritising the availability of high-quality data from non-financial corporates.
“Data is the lifeblood of financial markets. Without a clear regulatory framework to ensure financial institutions and investors have access to comparable ESG data from borrowers and issuers, allocating capital to supporting real economy transition plans will remain challenging,” according to the report.
©Markets Media Europe 2021