Banks Urged To Integrate ESG Data Into IT
Asian Banking & Finance|Issue 110
Banks are called to integrate ESGrelated data into their IT systems and processes in order to keep pace with regulator changes and consumer needs, McKinsey said in a report.
Banks Urged To Integrate ESG Data Into IT

BANKING TECHNOLOGY

“Banks must adapt their IT systems to systematically collect, aggregate, and report on a broad range of ESG data. However, many financial institutions still do not have a comprehensive approach to integrating ESG data into their existing risk reporting,” said report authors Henning Soller, Daniel Heller, Andreas Reiter, and Sebastian Schöbl in “ESG data governance: A growing imperative for banks.”

Moving toward this goal will require significant changes to the IT infrastructure, Soller and his co-authors noted. New applications include financed emissions models, climate risk models, ESG scorecards, climate stress tests, and climate-adjusted ratings.

This story is from the Issue 110 edition of Asian Banking & Finance.

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This story is from the Issue 110 edition of Asian Banking & Finance.

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