At Davos, Nasdaq announced the launch of a new ESG Reporting Platform, which aims to simplify the corporate sustainability and ESG reporting process for public companies.
“We’re announcing today that we’re launching a service that allows [companies] to input the information once and we will then spread it out to all of the standard-setters and metric-makers simultaneously through an API structure,” Nasdaq President and CEO Adena Friedman said Wednesday during a panel at Davos.
“So, they can organize their information, we can help them understand exactly how to present it, make sure that they are walking the talk, and then they have one place to put it, and it can go out to everyone who needs to see it,” Friedman continued.
The platform supports several sustainability reporting frameworks, including the Global Reporting Initiative (GRI), ISS, MSCI, RobecoSAM, the Sustainability Accounting Standards Board (SASB), Sustainalytics, and the Task Force on Climate-related Financial Disclosures (TCFD), among others.
Friedman also noted that as the platform matures, it will allow Nasdaq to measure benchmarks and analyze trends.
The new platform builds on Nasdaq’s stable of ESG-related products and services, which includes Nasdaq Boardvantage®, the Center for Board Excellence, the Nasdaq Nordic Green Bond Market, the Nasdaq Sustainable Bond Network, Nasdaq’s global ESG Reporting Guide and Nasdaq’s ESG Advisory Solution. The latter of which has become quite popular over the last couple of years, Friedman noted.
“We believe that we are uniquely positioned to solve for these challenges given the thousands of clients who rely on Nasdaq for counsel on a range of sustainability and governance-related issues,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “The new platform will broaden our strategic collaboration with corporates who are seeking new ways to bring efficiency and simplicity to the ESG reporting process.”