Powering Sustainable Business: CoriolisESG by TradeSun

Concerns around sustainability have grown exponentially in the last few years, with ambitious targets set by leaders and regulators to create a better future for people and planet. In this article, we discuss CoriolisESG by TradeSun as it heads into its new chapter, as well as the importance of more sustainable and resilient business flows.

The foundation

The focus on ensuring sustainability for future generations has swiftly sharpened in recent years.

In 2015, world leaders made a breakthrough by signing the Paris Agreement which had one core global goal: to substantially reduce global greenhouse gas emissions to limit temperature increase this century to two degrees Celsius.

That same year, the United Nations introduced 17 Sustainable Development Goals (SDGs) to provide the foundations for policymakers, regulators, banks, and investors to better understand the relationship between the planet, economic activity, and social development. The United Nation’s view remains clear today: we must act using this framework to ensure a better future for all.

In the years since 2015, and from Asia to the Americas, countries have been rolling out rules to align with these global frameworks for business. The EU enforced its Taxonomy, while Canada published its ESG-Related Investment Fund Disclosure, Hong Kong announced its Sustainable Finance Strategy, and Egypt published its mandatory ESG and Climate Disclosure Regulation, to name a few.

The world and business now require effective and scalable ways to measure environmental, social and governance risk factors to make progress against such goals and ensure resilience for years to come.

The only way to measure ESG risks effectively and fairly, without greenwash and bias, will be through the use of intelligent technology. The market understands this and is moving rapidly to embrace the shift, with virtually all companies expecting to invest in ESG reporting technology over the next year, according to a recent report by consultancy Deloitte.

The pioneering path

In December 2022, TradeSun, a company focused on digitalising and automating global trade finance and compliance processes with artificial intelligence, acquired Coriolis Technologies.

Following this development, CoriolisESG by TradeSun was born. It is pioneering the path for automated ESG scoring, with a compelling and independent solution that meets a critical need. The world needs this, and global trade and supply chain in particular need this if sustainability goals and ESG mandates set by leaders and policymakers are to be met.

From the universal United Nations framework, and developed with the input of more than 70 international banks and businesses, the automated scoring solution – the first and only one of its kind – facilitates companies on their sustainability journey. CoriolisESG is an accessible, independent, and scalable tool that measures key entity data against globally recognised frameworks, such as the UN SDGs, the EU Taxonomy, and the Sustainable Finance Disclosure Regulation.

For TradeSun, the proposition was clear: bring this exemplary solution to our network and scale it. The solution adds a critical component to TradeSun’s compliance suite of products that leads in fighting financial crime and enforcing economic sanctions. Additionally, the combined data resources of TradeSun and CoriolisESG by TradeSun provide a number of new capabilities, particularly in ensuring business and supply chain resiliency.

CoriolisESG by TradeSun is taking a truly innovative approach to a global problem that affects us all.

The future

While high-level frameworks and more generally ESG initiatives have their critics, there is no doubt that governments and policymakers understand evolution in this area is an imperative. This focus means that ESG reporting is playing – and will continue to play – an increasingly important role across business in the future.

There is no perfect answer to ensuring sustainability equitably across the globe. What we do know, however, is that improvements in sustainability can only be productive when measured in an independent, standardised, and scalable manner – there is no place for greenwashing and human bias in sustainable economies.

The sustainability movement is well underway and gaining momentum. Going forward, what business needs is ways of connecting frameworks to their everyday activities – real solutions that work on the ground. How else can the impact of a product or supplier, say, be assessed accurately against UN SDG number 16 – Peace, Justice, and Strong Institutions – for example.

The insight offered through CoriolisESG allows businesses to understand precisely where and how company activity and human decision-making are contributing to global sustainability ambitions and where ESG risk can be better managed.

The vision for CoriolisESG by TradeSun is simple: support sustainable growth by providing businesses with cost-effective solutions that measure their activities against recognised frameworks, advancing wider sustainability ambitions and resiliency – and our team is committed to that vision.

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