Citi Partners with Truvalue Labs to Enhance ESG Research Capabilities
September 30 2020 - 8:00AM
Business Wire
Collaboration accelerates Citi’s goal to
deliver high-quality ESG research at scale
Citi today announced a collaboration with Truvalue Labs, the
pioneer in AI-driven environmental, social, and governance (ESG)
data, to accelerate its ESG research initiatives and to analyze
company ESG behavior at scale. Citi’s Research & Global
Insights group will be using Truvalue Labs data to monitor public
company performance against sustainability criteria developed by
the Sustainability Accounting Standards Board (SASB) and research
analysts will be assessing the financial materiality of key
issues.
The Truvalue Labs data collaboration provides Research &
Global Insights with a range of daily signals that identify both
positive and negative ESG behavior, independent of what companies
report themselves. Truvalue Labs mines over 100,000 sources in 13
languages to identify and categorize company actions according to
the industry-leading framework of the SASB. The timeliness and
scalability of Truvalue Labs’ capabilities will benefit Citi as the
company continues to develop proprietary ESG research for use
across all of its divisions.
“We are excited to be partnering with Truvalue Labs to support
development of our own research into the material ESG issues which
companies are tackling,” said Andrew Pitt, global head of the
Research & Global Insights unit. “The ESG factors affecting
companies are so dynamic in today’s complex global economy, and
Truvalue will be able to provide us with real-time insights.”
Citi’s Research & Global Insights team is developing a
materiality assessment that will combine company reported
sustainability disclosure information from traditional sources with
Truvalue Labs’ real-time, AI-driven ESG data. By combining data
from multiple sources, it accelerates the research process and will
enable research analysts to quickly compare what companies say
regarding their sustainability and ESG initiatives with what
actions are actually being taken. Truvalue Labs covers more than
19,000 public and private companies today with plans to continue to
expand its coverage and sources exponentially over the coming
quarters. Leveraging this real-time information driven by AI
technology helps Citi to better understand the ESG issues that its
clients are facing as well to better manage internal risks.
“We are delighted to partner with Citi, a major bank that is at
the forefront of ESG research, to help enhance their innovative,
next-generation ESG research platform,” said Hendrik Bartel, CEO
and co-founder of Truvalue Labs. “We were excited to see Citi’s
incorporation of our Coronavirus ESG data in a recent Global
Insights report and look forward to our continued partnership as
they roll out their ESG platform firmwide.”
Today’s news materializes just after Citi’s Sustainability, ESG
and Alpha conference occurring earlier in September. The conference
is part of Citi’s ongoing commitment to the ESG and Sustainability
agenda and brings together leaders from the corporations and
investment managers to discuss the challenges facing society and
the environment.
“As part of Citi’s 2025 Sustainable Progress Strategy, we are
integrating ESG analysis into our client engagements across the
firm, and are working with leading ESG data providers to supplement
internal expertise,” said Val Smith, Citi’s Chief Sustainability
Officer. “The Truvalue Labs collaboration with our Research
& Global Insights team is an exciting development, as it will
enable us to combine internal analysis, ESG data and AI to help us
gain a deeper understanding of the opportunities and risk
landscapes for our clients.”
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
TRUVALUE LABS
Truvalue Labs is the first company to apply artificial
intelligence (AI) to uncover timely and material Environmental,
Social, and Governance (ESG) information at scale. The company’s
mission is to deliver increased transparency to investment
professionals by providing data and analytics that go beyond
traditional fundamentals. It is backed by investors including
Series A round lead Katalyst Ventures, based in San Francisco. The
flagship products, Truvalue Platform™, Truvalue Data™ and Truvalue
Cloud™, deliver investable insights by revealing value and risk
factors from unstructured data at the speed of current events.
Visit www.truvaluelabs.com to learn more about the SaaS, API, Cloud
and Index products.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200930005179/en/
MEDIA (CITI) Gabriel Morales Citi Global Public Affairs
gabriel.morales@citi.com MEDIA (TRUVALUE LABS) Shannon Bland
Caliber Corporate Advisers Shannon@calibercorporate.com
210-310-9537
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2024 to Apr 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Apr 2023 to Apr 2024