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U.S.-based fintech Broadridge Financial Solutions announced on Thursday the launch of its new Environmental, Social and Governance (ESG) advisory services. According to Broadridge, the service will help corporate issuers and asset managers improve sustainability strategies while effectively positioning their ESG programs with stakeholders. Broadridge is notably working with Third Economy, a sustainable investment research and advisory services provider, on the service.
Broadridge also noted that the ESG Advisory Service combines its data, technology and communications expertise and Third Economy’s proprietary methodology for systematically evaluating sustainable investment efforts of companies, enabling clients to move from strategy through execution to communication by:
- Benchmarking ESG efforts to peers and industry best practices to identify areas for improvement
- Aligning ESG capabilities with emerging frameworks and standards, such as Sustainability Accounting Standards Board (SASB), Carbon Disclosure Project (CDP) and the Task Force on Climate-Related Financial Disclosures (TCFD)
- Creating a roadmap for companies’ ESG journeys, which includes policy and program development; metrics for measuring performance over time; ESG goals; and corresponding goal results disclosures
- Enhancing an ESG program through all aspects of shareholder communications, including ESG and Sustainability reports, proxy statements, and annual reports, and delivering them on the channels that investors and other stakeholders prefer and expect
- Calculating carbon footprints and setting long-term environmental impact reduction goals and help improve ESG ratings
- Helping asset managers align corporate ESG strategies with product development
Speaking about the service, Dorothy Flynn, President of Corporate Issuer Solutions at Broadridge, added:
“Companies are making corporate responsibility initiatives part of their business strategy as more retail and institutional investors raise ESG concerns and seek the long-term performance advantages and benefits of ESG-focused businesses. Investors and other stakeholders are increasingly looking at ESG disclosures as a fundamental expectation, driving the need for additional connectivity between companies, investors and other stakeholders.”
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