Challenge
Financial institutions currently face a long list of challenges when it comes to ESG and carbon reporting. These challenges include accurately collecting and analyzing vast amounts of data from different sources, ensuring data integrity and quality, establishing standardized reporting frameworks, complying with regulatory requirements, and effectively communicating ESG and carbon performance to stakeholders.
With these hurdles in mind, we’re working with a financial institution made up of 50 subsidiaries, 2,000 staff and with US $600M yearly turnover:
- Deploy a global solution to estimate, report and reduce the company’s carbon footprint - with the capacity to support the evolution of carbon data (reprocessing), multiple layers of reporting, and comparability between reports.
- Build easily scalable strategy and functionality to support local specificities, multiple regulations and emission factors, and deliver immediate value to countries where it’s integrated.
Approach
The innovative solution we’ve framed and deployed is set to:
- Publish all current carbon data available
- Steer emissions reduction by modeling, defining trajectories and reduction scenarios
- Deliver full end-to-end data traceability between reports, reductions and the original data source
- Automate the company’s pipeline to capture, standardize and integrate future carbon data.
Outcomes
Our ultimate goal is to enable the financial institution to understand its environmental impact, streamline processes for their business, adapt to looming regulatory requirements, and expand sustainability initiatives globally across their 50 subsidiaries.
PALO IT’s custom data visualization tools will provide real-time insights for informed decision-making and effective communication throughout their business.
In a nutshell? They’ll have the in-house ability to source data and drive change, and the enhanced brand reputation that comes with it.
