ISS ESG, the sustainable investment arm of ISS STOXX, has added a new Industry Average Emission Intensity data set to its suite of climate solutions.
The new data is aimed at supporting banks and insurance companies that need to comply with mandatory climate-related disclosure frameworks, it was shared.
The new, sector-based data set enables users to estimate emissions for non-listed companies, small and medium enterprises, and other alternative investments.
It was noted that it enables banks to estimate emissions for large portfolios of companies where data is scarce in support of EBA Pillar 3 reporting. It also provides industry emission intensity averages that follow PCAF recommendations on a global and regional basis and comprise NACE and GICS industry classifications.
According to Till Jung, Head of ESG Business at ISS STOXX, the launch comes as banks face tight implementation deadlines, in tandem with data scarcity, among other challenges, to meet the regulatory requirements set out by the EBA standard.
“ISS ESG has applied its wealth of experience in measuring physical and transition-related climate risks, regulatory alignment, and much more, to develop a broad and deep dataset, to help streamline banks’ EBA Pillar 3 ESG reporting,” said Jung.