Element22, a leading consultancy committed to modernising data and analytics within financial services, today announces that its recently launched product ESGi, an innovative technology solution sourcing attested, trusted ESG data for the investment industry, has been selected to participate in the Financial Conduct Authority (FCA) and the City of London Corporation’s Digital Sandbox Sustainability Cohort. This will run until 31 March 2022.
The Sustainability Cohort was launched to help create a greener financial sector by supporting technology solutions that solve current challenges around ESG data and disclosures. It is part two of the FCA and City of London Corporation’s Digital Sandbox, a platform which provides successful participants with access to various data assets for testing, developing and validating solutions related to their respective projects.
Following an application process which began in September 2021, Element22’s ESGi was selected to participate in the Transparency in Disclosure & Reporting project, which will work to create technology solutions for firms to collect decentralised and geographically dispersed ESG data as well as tools to better understand, aggregate and efficiently use ESG data for reporting and investment decision making.
Over the course of the next few months, Element22 will have the opportunity to showcase its solutions to the public during demonstration weeks in January and March 2022, before the Sustainability Cohort closes.
Mark Davies, partner at Element22, said: “We are delighted to have been selected to take part in the 2021 Digital Sandbox Sustainability Cohort. ESG is very much a data sourcing and management challenge for firms. We believe that digital solutions can help firms to overcome this hurdle, with the ultimate goal of making financial services more sustainable.”
Policy Chair at the City of London Corporation, Catherine McGuinness, said: “This is hugely exciting news that shows once again why London is a world-leading centre for green finance, with the public and private sectors working together to drive progress. This group of companies will help to create a greener financial sector and aid the transition to net zero by addressing common challenges, including issues such as ESG data and disclosure. I hope their involvement in the Digital Sandbox will be a vital step towards mobilising private capital to deliver a green revolution.”
ESGi was also chosen in March this year by the Investment Association to join its IA Engine Innovator Programme, the IA’s specialist FinTech accelerator and innovation hub for the investment management industry
For further information on the Digital Sandbox, please visit https://www.fca.org.uk/firms/innovation/digital-sandbox
