📣 SFDR REGULATORY RISK - Time for ESG risk integration courses and training 🔔 Fiduciary duty requires that all risks are integrated in investment decisions when managing others’ assets. ESG risks are risks like any other risks and must be appropriately integrated. 🔔 Most asset managers struggle to get this process in place for many reasons, despite nice texts on web sites. Some of them are internal resistance when portfolio managers do not distinguish ESG risks integration and impact intentions, lacking interest in adding to workload, difficulties to turn identified ESG risks into financial risk metrics, etc. 🔔 The reality now in 2024 is that in Europe ESMA and the national Financial Suprvisory Authorities (FSAs) are starting to softly look into the practice. In not too long this will become non-soft supervision. It is time to step up! 🌟 As specialists in ESG risk research and EU Sustainable Finance, sustainAX has trained many portfolio managers in the last years on ESG risk integration. Both equity and fixed income portfolio managers have been trained. 🌟 Combining experience from capital markets, asset management, EU sustainable finance and ESG research, sustainAX can offer a training while speaking the language of the participants and understanding their challenges. ➡️ More about our ESG riskintegration training here: https://lnkd.in/dGqn4FMc Norsif Forening for finansfag Norge Verdipapirfondenes forening Swesif Sveriges Finansanalytikers Förening Fondbolagens Förening, The Swedish Investment Fund Association Finsif Suomen Sijoitusanalyytikot ry - The Finnish Society of Financial Analysts Dansif Finansforeningen/CFA Society Denmark Eurosif - The European Sustainable Investment Forum
sustainAX
Företagskonsultation och företagstjänster
Malmö, Skåne County 1 428 följare
sustainAX är ett ESG analys och konsultbolag som erbjuder tjänster till kapitalförvaltare, utställare och banker.
Om oss
sustainAX är en nordisk ESG analys/scoring leverantör och ett konsultbolag med fokus på hållbar finans. Vi stödjer kapitalförvaltare, bolag och bankar med ESG analys/scoring och rådgivning inom hållbar finans med fokus på produkter, kommunikation och processer.
- Webbplats
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https://www.sustainax.com
Extern länk för sustainAX
- Bransch
- Företagskonsultation och företagstjänster
- Företagsstorlek
- 2–10 anställda
- Huvudkontor
- Malmö, Skåne County
- Typ
- Privatägt företag
- Grundat
- 2021
Adresser
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Primär
Adelgatan 21
Malmö, Skåne County 211 22, SE
Anställda på sustainAX
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🌍 Dag A.D. Messelt, CEFA, CESGA®✨
Senior Certified ESG Analyst and Senior Sustainable Finance Expert @ sustainAX #ai #fintech #sustainability #esg #startup #scaleup
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Niklas Vilhelmsson
Senior corporate finance advisor - ESG analyst
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Susanna Lecander Messelt
Senior Certified ESG Analyst på sustainAX
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Oscar Messelt
Final year M.Sc. Student in Computer Science and Engineering at LTH and Polytechnique Montréal | Developer at sustainAX
Uppdateringar
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📣 HAR REVISIONSUTSKOTTET KUNSKAP OM HÅLLBARHET? (English below) 🔔 Finansinspektionen kommer kika in i revisionsutskottens kunskap om hållbarhet genom en fördjupad analys. 🔔 "Det är viktigt att revisionsutskotten har rätt kompetens. Vi ska nu kartlägga hur företagen har förberett sig för revisionsutskottens tillkommande arbetsuppgifter nu när de nya reglerna om hållbarhetsrapportering trätt i kraft..." ⚠️ De flesta av bolagen som vi ESG riskanalyserar har ingen synlig hållbarhetskunskap i sina styrelser alls, så är et stort arbete med utbildning och/eller utbyte av ledamöter ligger framför bolagen. 📣 DOES THE AUDIT COMMITTEE HAVE SUSTAINABILITY KNOWLEDGE? 🔔 The Swedish Financial Supervisory Authority, Finansinspektionen, will look into the audit committees' knowledge of sustainability through an in-depth analysis. 🔔 "It is important that audit committees have the right expertise. We will now map out how companies have prepared for the audit committees' additional tasks now that the new rules on sustainability reporting have come into force..." ⚠️ The majority of the companies that we ESG risk research have no visible sustainability knowledge on their boards at all, so a lot of work with training and/or exchange of directors lies ahead of the companies.
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sustainAX omdelade detta
📣 LUX FSA CSSF FINES FOR "PERSISTANT BREACHES" IN INTERNAL GOVERNANCE FRAMEWORKS - THE MISSING PART IS PROCESSES! Lux FSA Commission de Surveillance du Secteur Financier (CSSF) fines Aviva Investors 56 000€ for lacking compliance to fund rules based on ESG "characteristics" and exclusions. Another point was missing measures to allow the SDG promise compliance. For me this is about lacking processes. Many asset managers still think sustainable finance is only about data and reporting. ⚠️ IMPORTANT! The SFDR actually require that there are described PROCESSES that ensure compliance with what is promised in pre-contractual documents like prospectuses and marketing material. Core processes to put in place and describe are: 🌟 ESG risk research (if internal, most buy this today) 🌟 ESG risk integration (SFDR article 6 require a clear description of process) 🌟 Process to ensure envvironmental and social characteristics are met (this can be an exclusion processe for instance) 🌟 Process to ensure sustainable investment promises are met (this can be a process of SDG contribution research and portfolio mapping for instance) National FSAs are tightening the grip as instructed by ESMA and there is more to come. I still see a wide gap for many asset managers. The small are lacking structure and correct SFDR documentation. The large are having far to complex SFDR documentation that few really understand, but not necessarily more real processes in place. The most difficult process to implement is the ESG risk integration in investment decisions. We train portfolio managers and analysts in this to get them started. Fiona McNally Responsible Investor
Luxembourg’s financial regulator has fined Aviva Investors €56,500 for breaches identified in five of its funds categorised as Article 8 under the EU’s Sustainable Finance Disclosure Regulation. The Commission de Surveillance du Secteur Financier (CSSF) said that, during a thematic on-site inspection which focused on sustainability and ESG, it identified “persistent breaches” in the manager’s internal governance frameworks. #SFDR #SDGs #SustainableFinance #Luxembourg #eu
Aviva Investors fined by Luxembourg watchdog over alleged ESG breaches
responsible-investor.com
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📣 [sustainAX] New ESG risk research and ratings published - December 2024 New fundamental ESG research from sustainAX was published today on Bloomberg for the following issuers: 🔔 Assemblin Caverion Group (Initiation) 🔔 Excellence Logging (Initiation) 🔔 Grøntvedt Group (Update) 🔔 Ithaca Energy (Initiation) 🔔 Neo Bidco - Klarna Checkout (Initiation) 🔔 Møller Mobility Group AS (Update) 🔔 NoA - The North Alliance - Noa Bidco (Initiation) 🔔 Norske tog (Initiation) 🔔 OKEA ASA (Initiation) 🔔 reMarkable INVEST AS (Update) 🔔 TAPTRAVEL LTD Nordic (Initiation) 🔔 Voi Technology AB (Initiation) The sustainAX fundamental ESG research focuses on risk and opportunities related to ESG factors and is a good starting point for ESG risk integration in investment decisions. We cover as the only provider over 200 issuers, mainly non-listed Nordic credit issuers, but also micro-cap companies. Our coverage is decided by our clients and can be for any company in the world not covered by the global ESG risk research providers. sustainAX covers the gap to help you achieve 100% coverage of your portfolio. If you would like to access our research, please contact us at [email protected] More about the sustainAX ESG research and more here: https://www.sustainax.com
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📣 How to deal with old large long-life capital goods not showing in GHG accounting? Greenhouse Gas Protocol (GHG Protocol) Norsif Swesif Dansif Finsif IcelandSIF EFRAG EFFAS - The European Federation of Financial Analysts Societies
Senior Certified ESG Analyst and Senior Sustainable Finance Expert @ sustainAX #ai #fintech #sustainability #esg #startup #scaleup
📣 Question for you - How to deal with large long-life capital goods not showing in GHG accounting? 🔔 As we are getting closer to 1 000 fundamental ESG risk research reports here at sustainAX, we have been discussig a weakness in the GHG Protocol methodology. ⚠️ Large long-life capital goods like vessels (ships), chemical (or other) plants, oil platforms, airplanes, etc. "never" show up in scope 3 reporting for the operational company. According to the GHG Protocol they shall "at purchase" moment. 🔔 But we often ESG risk research companies with this kind of post-purchase large long-life capital goods (can be for example 10 oil platforms or 50 vessels (ships)) and notice that when it comes to carbon intensity the reported data is NOT representative for the activity. ➡️ Some suggest that in addition to the "at purchase" accounting, companies should also report by spreading the "at purchase" scope 3 in line with the amortisation of the asset value. As both location based and market based is requested for scope 2 reporting. ⁉️ Do you agree? Disagree? What do yo think?
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📣 IT'S TIME TO WAKE UP – SFDR – NORWEGIAN FSA Yesterday, the Finanstilsynet (FSA Norway) made a presentation of SFDR requirements while informing about the conclusions from their investigations so far. The timing for information from these investigations is good, but it's two years too late concerning SFDR requirements. However, better late than never. The results from the investigation align well with what we at sustainAX see in Norway but also in Sweden. ⚠️⚠️⚠️ A FULL 54% received "Fail," meaning more than half! 36% received "Average," and ONLY 10% received "Excellent." Many have real regulatory risks that they need to address! "There is work to be done," as Anne Merethe Bellamy said. Issues that the Financial Supervisory Authority points out regarding ESG risk integration (our focus): 🔔 Some say nothing about ESG risk integration at all or only state that they do it without explaining operationally how (we think most are here). This puts them in violation of SFDR Article 6. Therefore, they need to have processes in place first and then describe them. For example, many have a "dashboard" with ESG data that the managers have access to but say nothing about how a) this translates to ESG risk (analysis) and b) how this is integrated into investment decisions. Contact us for training on this for portfolio managers and analysts. https://lnkd.in/dGqn4FMc 🔔 Lack of data is not a good enough argument, says the Financial Supervisory Authority. We provide ESG risk analysis of everything investors say is lacking in the market for credit issuers, including private issuers, so claiming that there is no data is not accepted. The same applies to arguments that it is not "necessary" for short IG bonds, we believe. About our methodology here: https://lnkd.in/dUWVaBbb Other issues pointed out by the Financial Supervisory Authority: 🔔 Incorrect and missing information that is mandatory in SFDR and misleading marketing material. We can also assist here with an SFDR due diligence that we have already done for several players in the Nordics. ⚠️⚠️⚠️ ONGOING SUPERVISION - The Norwegian Financial Supervisory Authority is currently conducting oversight in the same areas for a selected group of financial market participants, which could be tough for those involved. We have heard that they are, among other things, picking out individual investments and asking how ESG risk has been integrated. We believe that most will have trouble providing a sufficient answer. If you are unsure how to handle this, we can have a non-binding conversation. Just remember that we do not have unlimited resources, so it's first come, first served for help from us. Eurosif - The European Sustainable Investment Forum European Securities and Markets Authority (ESMA) EFFAS - The European Federation of Financial Analysts Societies
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📣 PÅ TIDE Å VÅKNE OPP – SFDR – FINANSTILSYNET (English post will follow) I dag hadde Finanstilsynet (FSA Norway) en gjennomgang av SFDR krav samtidig som de informerte om konklusjonene fra deres undersøkelser så langt. Riktig timing for info fra undersøkelser og 2 år for sent med tanke på SFDR krav. Men bedre sent enn aldri. Resultatene fra undersøkelsen er helt i linje med det som vi ser i Norge, men også i Sverige. ⚠️ HELE 54% fikk “Ikke bestått”, altså mere enn halvparten! 36% fikk “Middels” og BARE 10% fikk “Fremragende”. Mange har reel regulatorisk risiko som de må adressere! "Det er en jobb å gjøre" som Anne Merethe Bellamy sa. Problemer som Finanstilsynet peker på når det gjelder ESG risiko integrering: 🔔 Noen sier ingenting om ESG risiko integrering i det hele tatt eller sier bare at de gjør det uten å forklare operasjonelt hvordan (de fleste tenker vi). Man er da i brudd med SFDR artikkel 6. Her må man altså ha på plass prosesser først, og deretter beskrive de. Mange har for eksempel “dashboard” med ESG data som forvalterne har tilgang til, men sier ingenting om hvordan a) dette oversettes til ESG risiko (analyse) og b) hvordan dette integreres i investeringsbeslutninger. Ta kontakt med oss for kursing i dette for porteføljeforvaltere og analytikere. https://lnkd.in/dGqn4FMc 🔔 Manglende data er ikke et godt nok argument sier Finanstilsynet. Vi leverer ESG risiko analyse av alt investorer sier mangler i markedet for kreditt utstedere inkludert private utstedere, så å hevde at det ikke finnes data er ikke akseptert. Det samme gjelder for argumenter om at det ikke er «nødvendig» for korte IG obligasjoner tenker vi. Om vår metodologi her: https://lnkd.in/dUWVaBbb Andre problemer som Finanstilsynet peker på: 🔔 Feilaktig og manglende informasjon som er obligatorisk i SFDR og misvisende markedsføringsmateriale, vi kan også hjelpe her med en SFDR DD som vi har gjort for en del aktører allerede i Norden. ⚠️ PÅGÅENDE TILSYN - Finanstilsynet holder nå på med tilsyn på de same områdene for en utvalgt gruppe finansmarkedsaktører, det kan bli tøft for de det gjelder. Vi har hørt at de blant annet plukker ut enkeltinvesteringer og spør hvordan ESG risiko har blitt integrert. Vi tror at de fleste vil ha problemer med å svare godt nok. Er du usikker på hvordan dere skal håndtere dette, så kan vi ta en uforpliktende samtale. Husk bare at vi ikke har ubegrensede ressurser, så førstemann til mølla gjelder for å få hjelp fra oss. Norsif/Verdipapirfondenes forening sin guide for implementering av SFDR som vi var med på å utvikle er et godt utgangspunkt for å komme i gang: https://lnkd.in/dpVv87wm Noen kundereferanser: https://lnkd.in/dv32-xyT Marie Franssen René Torgersen, CFA Roy Halvorsen Marion Ravna Fondbolagens Förening, The Swedish Investment Fund Association Swesif Finsif
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sustainAX omdelade detta
📣450 000 NOK fine for not respecting the Norwegian Transparency Act on Human Rights for own activity and supply chain. 🔔When conducting ESG risk research for our institutional investor clients, we see a lot of these reports being ”empty shells” with close to no information convincing us that there is a real work on this going on. Often with a simple sentence saying ”We have no risk in our supply chain related to Human Rights”. Well… 🔔When will we see fines for lacking ESG risk integration in investment processes/decisions as required by fiduciary duty and the EU (SFDR article 6+)? Our advice is to get these processes going. If you need help, reach out to us at sustainAX, we can provide both ESG risk research and training in ESG risk integration for portfolio managers and investment analysts.
Forbrukertilsynet gir Lager 157 overtredelsesgebyr på kr. 450 000 for å ha brutt plikten til å gi informasjon etter åpenhetsloven.
Forbrukertilsynet har fattet vedtak om brudd på åpenhetsloven - Forbrukertilsynet
https://www.forbrukertilsynet.no
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sustainAX omdelade detta
🤖 If you work with #Impact investing and rely on own research using #SDG impact as qualifier for #Sustainable #Investments, you may find some support in the "UN SDG Contribution Verifier" a FREE GPT we have built. 🌟 You can use it to assess SDG contribution claims by companies and ask questions about it. Use multi-step prompting and answer to the questions from the GPT to get better results. ⚠️ You need a paid Chat GPT acces to be able to use it. If you have not it is about time to get it, we are in disruption and you do not wissh to be left behind! 😎 We see a lot of interest and it has been used over 200 times and we get a lot of questions and feedback from user all over the world. On another note, if you need help with ESG research processes or ESG integration processes, we at sustainAX are experts and can help!
Senior Certified ESG Analyst and Senior Sustainable Finance Expert @ sustainAX #ai #fintech #sustainability #esg #startup #scaleup
📣 Seeking Insights: Help Us Refine Our AI-Powered SDG Contribution Claim Verifier! 🤖 In the ever-evolving world of artificial intelligence, the sustainAX team is dedicated to enhancing our understanding of AI's applications in the realm of sustainability. As part of our journey in #promptengineering, and integration of AI into our ESG research process and systems, we're excited to introduce our latest playground: the AI-driven "UN Sustainable Development Goal (SDG) Contribution Verifier." Why This Matters: We've noticed that more and more companies are making claims about their contributions to the UN SDGs. However, we often find these claims either overly optimistic or questionably impactful. To address this, we've developed an AI tool designed to critically assess these corporate claims. Here's the Catch: 🤓 Our current version seems to be erring on the side of generosity, possibly due to a bias in the AI learning process. This is where we need your keen eyes and sharp minds! We Need Your Feedback: 🌟 Test the Tool: If you have ChatGPT Plus, Team, or Enterprise access, you're invited to give our verifier a try. 🌟Share Your Thoughts: What did you like? What can be improved? Your insights are invaluable to us. 🌟Suggest Adjustments: Do you have ideas on how to make our AI more critically analytical? We're all ears! Your participation is crucial in helping us fine-tune this AI tool to better serve the global community's efforts in achieving the SDGs. Join us in this groundbreaking journey. Together, we can make a difference! NB! We do not intend to measure size of impact, we leave that to specialists like Matter, we just assess the "SDG communication pertinence" as part of our ESG research process. DISCLAIMER: AI can hallucinate and make its own way, including making mistakes, be critical when assessing the answers! OpenAI ChatGPT Generative AI #sdgs2030 #sdgs #sdg #sustainability #sustainabilityreporting #sustainabilitygoals #sustainabilityinbusiness #audit #audits
ChatGPT - UN SDG Contribution Verifier
chat.openai.com
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USE AI FOR EU SFDR (Sustainble Finance Disclosure Regulation) DDs? 🤖 We definitely do and now we share our up-until-now internal GPT. We use it to be able to deal with huge document piles of intricate multi dimensional regulations but NOT to replace the thinking. It can help you with everyday issues and questions regarding SFDR. Use multi prompt (question/answer) sessions to get the best answers. It does not replace what a professional EU Sustainable Finance consultant can help you with. Contact us if you need a professional DD of your SFDR communication. Disclaimer: Using AI has value mainly if you already are an expert in the field and if you break down complex tasks to smaller pieces. sustainAX does not assume any legal responsability for the use of the GPT or any following issues/damages/costs. AI can hallucinate and generated outcomes/answers must be verified. The GPT can be accessed here for paying ChatGPT users (if you are on the free version we strongly recommend you to get the paying version where you can upload documents and images in addition to the prompts, a dimension change!) https://lnkd.in/g-36UVXZ