A new environmental, social and governance (ESG) solution from CRIF will allow UK businesses, lenders and insurers to assess the sustainability of their entire supply chain in line with the latest European standards.
Synesgy from CRIF – a provider of digital transformation solutions for the European financial services industry – incorporates the European Commission’s latest European Sustainability Reporting Standards to ensure that all UK businesses wanting to conduct business within the EU are fully compliant.
By using Synesgy, businesses in the UK will be able to audit suppliers, enabling them to collect and view ESG reports, and see the sustainability ratings of the other businesses that they work with.
Companies can use Synesgy to benchmark their supply chains against sector performance, make more informed procurement decisions, as well as identify and prevent operational and reputational risks.
CRIF’s own research, conducted among 2,000 UK adults, found that 49% would choose a bank or lender that is focused on protecting the environment, while two-thirds (66%) want their bank to be transparent with them about how it is run.
CRIF’s Sara Costantini
Sara Costantini, CRIF’s regional director for the UK and Ireland, called climate change “the defining challenge of our time”.
“As customers look to companies that are a force for good, it’s crucial that businesses understand both their own ESG performance and that of their entire supply chain,” she said.
“At CRIF, our objective is to help business navigate the complex world of ESG by utilising data and insights. Through this, we’re helping more businesses to put ESG at the heart of their work, and we’re empowering them to play their part in charting a path towards a more sustainable future.”
Synesgy from CRIF is already being used by 250,000 companies, including 350 banks and insurers, in more than 60 countries.
CRIF’s Sara Costantini is speaking on the Main Stage at Open Banking Expo UK & Europe – find out more about the agenda and get your pass here.
