Euronext Launches New ESG Benchmarking Tool, SME CSRD Sustainability Reporting Advisory Solution
European market infrastructure provider Euronext announced the launch of a series of new ESG investing and sustainability reporting-related tools, including a new solution enabling listed companies to benchmark their ESG performance relative to peers, and an ESG Advisory service for SMEs looking to implement the EU’s new Corporate Sustainability Reporting Directive (CSRD) disclosure requirements.
The new solutions were announced as part of the organization’s Euronext Sustainability Week, which also saw Euronext launch initiatives and tools including a new collaborative sustainable finance ecosystem, “Euronext Sustainable Network,” and release its new ESG Trends Report 2024, aimed at providing insight into listed companies’ progress on ESG reporting performance, and adoption of evolving ESG regulations.
“Achieving sustainability in finance is a collective responsibility that requires collaboration across all market stakeholders. At Euronext, we are committed to advancing the European sustainability agenda by bridging local economies with global capital markets.”
The new initiatives follow the launch last year by Euronext of “My ESG Profile,” a digital tool enabling issuers to showcase their sustainability efforts providing investors with access ESG data. The new ESG Peer Benchmarking Report released by Euronext enhances the features of My ESG Profile, enabling companies to assess their ESG performance relative to their peers, and provide comparison points for improving sustainability practices.
Euronext’s new ESG Advisory solution, launched under its Euronext Corporate Services, is focused on supporting SMEs in implementing European Sustainability Reporting Standards (ESRS) specific to small- and medium-sized companies under the CSRD. Based on the ESRS, the CSRD introduces more detailed reporting requirements on company impacts on the environment, human rights and social standards and sustainability-related risk. The CSRD took effect from the beginning of 2024 for large public-interest companies with over 500 employees, with the first reports to be issued in 2025, followed by companies with more than 250 employees or €40 million in revenue in the following year, and listed SMEs one year later.
The new Euronext Sustainable network is aimed at establishing a collaborative ecosystem of European sustainable finance market participants – including investment firms, banks, lawyers, audit and advisory companies, carbon brokers and data providers – focused on promoting best ESG practices, driving ESG innovation, supporting issuers and educating members on ESG topics, regulations, and emerging trends.
Additionally, Euronext also announced the release of an updated version of its ESG Reporting Guide, aimed at helping companies understand and implement best practices for ESG reporting, and introduced a new Academy Coaching service, to support corporate sustainability officers and C-suite executives in understanding and adhering to EU regulations and global ESG standards.
Boujnah added:
“The ongoing development of our ESG products and services underscores our dedication to equipping companies with the essential tools to navigate the evolving regulatory landscape, elevate their ESG performance, and contribute to a more sustainable future.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Source: esgtoday.com
