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Finastra has recently announced a significant advancement in international trade by integrating Environmental, Social, and Governance (ESG) scoring capabilities into its working capital solution, Trade Innovation. In collaboration with TradeSun, this initiative, powered by artificial intelligence, aims to promote sustainability in the financial sector.
This integration with TradeSun’s CoriolisESG enables users to access automated insights into ESG scoring while efficiently managing trade and supply chain finance. This results in a better understanding of trade sustainability and an increased ability to monitor and manage the environmental, social, and governance impact of organizations.
Iain MacLennan, Head of Trade and Supply Chain Finance at Finastra, emphasized the growing importance of sustainability in international trade: “Sustainability has become a major imperative in the world of trade. With the emergence of stricter regulations, organizations must be able to measure their ESG impact and better manage associated risks. This integration represents a significant step forward in achieving this vision for our Trade Innovation technology users.”
The solution developed by Finastra and TradeSun enhances enterprise intelligence and resilience by evaluating key data against internationally recognized frameworks, such as the UN Sustainable Development Goals and the EU Taxonomy. It provides a comprehensive overview of international business activity, risks, regulatory compliance, due diligence, and supply chain analysis.
Nigel Hook, Founder and CEO of TradeSun, expressed satisfaction with this partnership: “We are thrilled to collaborate with Finastra to promote more sustainable global trade flows. Together, we are accelerating the adoption of responsible business practices through intelligent and scalable technology.”
This collaboration between Finastra and TradeSun encompasses the full TradeSun Intelligence platform, offering a comprehensive set of features including Optical Character Recognition (OCR), document verification, real-time compliance, and global markets analytics. This integrated solution also aligns with the ICC Principles for Sustainable Trade.
Ines Zucchino, Senior Vice President of Strategy and ESG at Finastra, highlighted the importance of this initiative for the future of the financial sector: “This integration demonstrates our commitment to sustainable and open finance. We believe these tools will not only increase operational efficiency but also foster a transition to more responsible business practices.”
In conclusion, the integration of ESG scoring into Finastra’s Trade Innovation platform represents a decisive step towards more sustainable international trade, reflecting the company’s continued commitment to innovation and social responsibility.
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Our article on ESG regulations : https://www.devlhon-consulting.com/en/bale-iii-pilier-3-esg/
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