EFRAG Selects Datamaran for Real-time Analysis of the Global ESG Landscape
May 01 2024 - 7:01AM
EFRAG Selects Datamaran for Real-time Analysis of the Global ESG
Landscape
The
European Financial Reporting Advisory Group
(EFRAG), Europe’s advisory body on financial and
sustainability reporting, has
chosen
Datamaran, the market leader in Smart
ESG (Environmental, Social, and Governance) software, as its
solution for ESG governance and workflow management to support its
research informing the development of the European Sustainability
Reporting Standards (ESRS).
Talking about the need for Datamaran, Patrick De
Cambourg, the Chair of the EFRAG Sustainability Reporting
Board, said: “EFRAG's mission is of crucial importance to make
reliable and comparable disclosures on all material sustainability
matters a reality, and ensure that financial disclosures and
sustainability disclosures have the same level of quality and
rigor. Relying on cutting-edge AI technology for analysing
disclosures, double materiality assessments, and regulation
tracking is necessary to ensure that our research and standard
setting are based on objective evidence and a scalable and
data-driven approach, and Datamaran is a highly valuable tool for
our team in that regard.”
Marjella Lecourt-Alma, CEO and co-founder of
Datamaran, said: “We are excited to work with EFRAG and
support them as they build the first-ever mandatory sustainability
reporting standards. Over the past years, the scale and the scope
of sustainability challenges have increased dramatically - this is
true for corporate leaders, as well as regulators. Ten years ago,
we started Datamaran to enable data-driven decision-making on
sustainability, leveraging the latest AI technology - today this is
a movement called Smart ESG. We are pleased to
welcome EFRAG into our community as they adopt the Smart
ESG way.”
Under this new agreement, EFRAG’s team will
utilise the Datamaran platform for ongoing monitoring and analysis
of corporate disclosures, to keep up-to-date with global
developments in standards and regulations, as well as stay on top
of ESG-related news from around the world. The platform will give
the team valuable data-backed insights and summaries powered by
generative AI to inform their work, and achieve their mission of
serving the public interest in Europe in financial and
sustainability reporting.
The Datamaran platform provides unparalleled
evidence-backed insights into the global ESG landscape by
aggregating and summarising data from thousands of sources,
including regulators, policymakers, corporate reports, and news
outlets on 100 ESG topics that break down into over 400 individual
factors. With this increased level of visibility, the team
at EFRAG will have an unhindered view of the ESG
landscape.
As the developers of the European Sustainability
Reporting Standards (ESRS) that are mandatory under the Corporate
Sustainability Reporting Directive (CSRD), EFRAG’s work plays
a critical role in driving ESG best practices to improve corporate
sustainability outcomes in the region, reducing the environmental
impact and creating benefits for society. The CSRD came into effect
on January 1, 2024, and applies to more than 50,000 companies
operating in the region, including 10,000 non-EU headquartered
businesses.
In Q1-24, Datamaran launched a new Targets
feature as well as enhancements to its double materiality
module, providing market-leading, data-driven Smart ESG
capabilities. Smart ESG software empowers companies with
evidence-based, AI-powered workflow tools to prioritise ESG issues,
bring expertise in-house, and monitor real-time issues to
strengthen governance and inform C-Suite
decision-making.
About EFRAGEFRAG is a
private association established in 2001 with the encouragement of
the European Commission to serve the public
interest. EFRAG extended its mission in 2022, following
the new role assigned to EFRAG in the CSRD, providing
Technical Advice to the European Commission in the form of fully
prepared draft EU Sustainability Reporting Standards and/or draft
amendments to these Standards. Its Member Organisations are
European stakeholders, National Organisations and Civil Society
Organisations. EFRAG’s activities are organised in two
pillars, a Financial Reporting Pillar: influencing the development
of IFRS Standards from a European perspective and how they
contribute to the efficiency of capital markets and providing
endorsement advice on (amendments to) IFRS Standards to the
European Commission. Secondly, a Sustainability Reporting Pillar:
developing draft EU Sustainability Reporting Standards, and related
amendments for the European
Commission.https://www.efrag.org/
About DatamaranDatamaran empowers
business leaders to confidently navigate the ever-changing ESG
landscape with evidence-backed and AI-powered governance and
workflow tools that enable them to focus on what matters most.
As the market leader in Smart ESG software, the
world's most trusted brands, such as Bridgestone, Dell, Kraft
Heinz, and PepsiCo, use Datamaran to identify and prioritise issues
material to their operations, deepen their teams’ ESG knowledge,
monitor risks and opportunities in real-time, and authentically own
their ESG strategy
in-house. https://www.datamaran.com/
Media Contact:
Datamaran@tiltonconsultancy.com