Banks can make a difference by preferentially pricing ESG products: ITFA & Coriolis Technologies White Paper

April 13 2022

Coriolis Technology is proud to work with ITFA in proposing an ESG solution for the needs of the financial services industry in their joint white paper which was launched on the 12th of April at the Coriolis Technologies Kosmos Working Group. 

Post COP26, analysts and commentators alike were talking about 2022 as though it was likely to be the most important year for sustainability since the Paris Climate Accord. Alongside this, regulators in the EU in particular introduced stringent mandatory reporting requirements in the form of the Sustainable Finance Disclosure Regulation and the EU Taxonomy, as well as in the form of the imminent Supply Chain Act.

All of these measures will be introduced during the course of 2022 and by 2023 there will be requirements to report on both the “E” and “S” aspects of #esg (Environmental, Social and Governance) criteria. More recently, the EU’s reliance on Russia for oil and gas in particular has put a spotlight on the need to source energy from alternative suppliers as well as from alternative means. As a result of all this, the “G” in ESG has increased in importance as well.

The wake-up call to action is clear: banks can make a difference by preferentially pricing ESG-compliant products. However, until we know exactly what ESG measurement is, this will be extremely difficult to achieve. The whitepaper sets out the needs of the financial services community as well as a suggested solution.

Download the White Paper

Fireside chat with ITFA Committees on the regulatory context

In the April Coriolis Technologies Kosmos Working Group, Dr Rebecca Harding hosted a Fireside chat with ITFA Committees on the regulatory context of the ITFA & Coriolis Technologies White Paper with:

  • Jo Wissing, ITFA Board Member and ESG Committee Chair;
  • Sean Edwards, ITFA Chairman, Special Adviser, Trade Finance Department, Sumitomo Mitsui Banking Corporation (SMBC);
  • Diana Rodriquez, Representative from the Africa Committee, the North America Perspective and the Berne Union; and
  • Leah Gilbert Morris, Chair of the Working Group and Director of International and ECA Relations at EDC.

The panel discussed issues related to:

  • Data as a regulatory requirement;
  • what we are measuring;
  • the risks of self-reporting and non-standardisation;
  • AfCFTA and ESG frameworks; and
  • and conflict in Ukraine.

ESG Regulation Tracker and Deadlines

The Paris Agreement states that “To stay below 1.5 °C of global warming, emissions need to be cut by roughly 50% by 2030”. Everyone, from policymakers and regulators to banks and investors will need to understand the symbiosis between the planet, economic activity and economic development. This is an age-old geopolitical problem in the true sense of the word – a conflict over resources between nations, social groups and individuals, and the failure to resolve it is perhaps because of its intractable and universal nature.

To help you stay ahead of incoming ESG regulations Coriolis Technologies has aggregated pending regulations across the trade industry so you can track them in one place. The tracker includes:
– EU Taxonomy;
– Sustainable Finance Disclosure Regulations (SFDR);
– EU supply chains;
– German supply chains; and
– UK Sustainability Disclosure Regulations

For more information on ESG...

Our Sustainability tracking solution is currently in being tested by our Kosmos Working Group (KWG): a non-competitive working group, including banks, insurers, and professional bodies. Click here to learn more about the KWG. We expect to open the solution up to a wider audience towards the close of 2022.

Submit your details and we will add you to our database and update you on the progress of development and the release date of version 2.0. Alternatively, contact us directly here

Please note, that your online safety and security are important to us. We understand the sensitivity of your data and will never pass your information on to any third party. Your data will be added to our private database so that we can notify you of any upcoming releases and send you our monthly updates. 

Sustainability Tracking - Keep me posted

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