Coriolis Technologies joins Digital Sandbox Sustainability Cohort

Coriolis Technologies is proud to announce that they will be joining the Financial Conduct Authority and City of London Corporation’s Digital Sandbox sustainability cohort.

The Digital Sandbox, provides innovators with access to a suite of tools to collaborate and develop financial services Proofs of Concept.

In its pilot stage, the Digital Sandbox welcomed 28 organisations that helped to solve challenges exacerbated by the pandemic. Building on the pilot’s success, the FCA and The City of London Corporation are running a second phase of the Digital Sandbox to support the testing and development of new products and services that will aid the transition to a net-zero economy. This phase includes a Sustainability Cohort, focusing on ESG data and disclosures challenges. Twelve organisations, including Coriolis Technologies, have been selected to participate in this Cohort and will work in the Sandbox from November 2021 to March 2022.

As part of the scheme, Coriolis Technologies will look to develop its Kosmos product to monitor the environmental, social, and governance health of the world’s companies, supply chains, and nations.

Dr Rebecca Harding, Coriolis Technologies Chief Executive, said:

“This is a once in a lifetime opportunity to achieve sustainable trade through technology and innovation. Through shared standards, effective automated and digital systems and the independence that comes from everyone working together, we can enable transparency in disclosure and report on sustainability, especially on the characteristics of corporate assets and the profile of their supply chains. The Digital Sandbox will allow us to develop our Kosmos product, which will ultimately automate the assurance of ESG data and help companies understand the ESG characteristics of the products and providers with which they engage. On behalf of Coriolis Technologies, I am immeasurably proud to be involved in such a great initiative.”

Policy Chair at the City of London Corporation, Catherine McGuinness, said:

“This is hugely exciting news that shows once again why London is a world-leading centre for green finance, with the public and private sectors working together to drive progress. This group of companies will help to create a greener financial sector and aid the transition to net zero by addressing common challenges, including issues such as ESG data and disclosure. I hope their involvement in the Digital Sandbox will be a vital step towards mobilising private capital to deliver a green revolution.”

Coriolis Technologies aims to drive the future direction of ESG standardisation and deliver solutions to some of the biggest challenges facing the trade industry. Ultimately the Coriolis Technologies Kosmos tool aims to:

1. Offer a simple, standardised and externally verifiable ESG score;
2. Provide transparency at the product level;
3. Achieve a granular understanding of supply chains through the tiers by allocating component products ESG scores in that supply chain.

Kosmos enables a business to monitor and assess the impact of its activities on ESG.

To find out more visit: https://pnq.a35.myftpupload.com/kosmos/