Over 90% of global public investors have specific environmental, social and governance investment (ESG) policies in place or are in the process of developing them, according to survey results released August 17 by BNY Mellon and the Official Monetary and Financial Institutions Forum (OMFIF) , an independent forum for central banking, economic policy and public investment.Yet, investors, as well as consumers and employees, lack transparency on the impact companies make through their products, employment and operations. Some 63% of sovereign and pension funds struggle to formally measure non-financial impact, according to the BNY Mellon and OMFIF survey. What is needed, say experts, is a standardized accounting system to measure companies’ environmental and social impact as well as proofs provided by technology. Tech giants Salesforce and SAP have developed environmental impact tracking software. Persefoni, a U.S. startup, is using artificial intelligence (AI) to track emissions and France’s SmartB, a 2019 startup of the week in The Innovator, has launched a worldwide decentralized Hyperledger blockchain network allowing “evidence of impact” to be generated, tracked, and traded,
This article is part of The Innovator’s premium content offer and available only to The Innovator’s Radar subscribers.
If you are already a Radar subscriber click here to sign into your account.
For a free trial Radar Subscription click here.