Sustainability data and technology services

In Financial services

A comprehensive data strategy is critical to driving and implementing successful sustainability transformations. As your financial services firm navigates the sustainability agenda, the right data and technology services can help you identify and manage sustainability risks, report on progress to stakeholders, and create innovative sustainability-led products and services.

What EY can do for you

As financial services organizations embark on sustainability transformations, data and technology should sit firmly at the forefront. Two areas in particular are critical to success:

The organization’s own data and technology footprint
How the organization finances sustainable finance products and services

Data forms an essential part of three key areas of a firm’s sustainability agenda:

How should you reframe your strategy? Data is needed to identify areas where increasing sustainability creates a competitive advantage and long-term value.
How can you govern and operate a more sustainable business? Data helps you manage sustainability-related regulatory requirements.
Where can you accelerate your transition and build trust? Data supports key sustainability initiatives, such as decarbonization, and helps you communicate progress to your stakeholders.

With the right data strategy and frameworks in place, your financial services organization is better positioned to support the projects and innovations that will drive sustainability and tell a compelling and credible story about the measurable difference they’re making.

Key areas of support

EY teams can support your journey with a structured approach to assessing and addressing key sustainability data challenges, that can flex and scale to meet your organization’s current maturity stage.

Everything begins with defining a data strategy that will support every area where sustainability data can make a difference, from decarbonization to reporting and risk management. Many firms are not ready to create a corporate-wide sustainability data strategy, so EY teams will work with you to outline the vision and the components, helping you build a sustainability data strategy that evolves and grows with your ambition.

EY teams will review your current data strategy, perform gap analysis and gather your data requirements, including granular corporate counterparty data that will support your sustainability reporting.
There are a growing number of sustainability reporting frameworks and requirements, such as the EU Sustainable Finance Disclosure Regulation (SFDR), the Taskforce on Climate-related Financial Disclosures (TCFD), the Corporate Sustainability Reporting Directive (CSRD) and the Global Reporting Initiative (GRI).

EY teams will analyze your current infrastructure to determine which data attributes already exist, and which need to be newly sourced or created to comply with the appropriate reporting frameworks. EY teams will then work with you to codify your sustainability data requirements into a single data model.
Many central banks and supervisors are undertaking market-wide climate stress tests. Organizations also need to be able to model different transition pathways against different temperate pathways. Different countries and jurisdictions will have different requirements, and therefore banks will need to source specific data for exposures to sectors, markets and countries.

Through the work on physical risk and transition modeling methodology development, EY teams have identified the types of data you will need and sources of this data and also identified what governance and controls are needed to meet specific risk use cases.
There are a large (and growing) number of third-party sustainability providers and solutions. Choosing the right vendors and products can be a complex and time-consuming task.

EY teams review and maintain a data landscape of more than 50 sustainability data providers with over 100 unique offerings and harness this information to assess how third-party data solutions align with your required use cases and recommend the most appropriate offering.

“Data is essential to support decarbonization pathways and enable disclosures. The EY sustainability data vendor toolkit is regularly updated to provide the latest view of providers to support sustainability initiatives.” Mike Booth, APAC sustainability data and technology leader.
Sustainability data is of limited use if it is siloed. To leverage the full power of this data, it needs to become a fundamental part of your business and sustainability strategy.

EY teams can help you integrate sustainability data and technology into your overall technology infrastructure so that all areas of the organization can use it to inform business decisions.

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What you can do today to make a difference for tomorrow

Explore how EY teams can help you drive value, impact change, and advance sustainability.

Contact our leaders now.

The team

Gill Lofts

EY Global Financial Services Sustainable Finance Leader

Passionate about creating a legacy in the financial services industry. Proud mother of two daughters.

London, GBR

Mike Zehetmayr

EY EMEIA Financial Services Risk, Compliance and Regulatory Technology Leader

Leader in understanding the application of data in transition to a low carbon and sustainable economy. Fellow of the Royal Geographical Society.

London, GBR

Mike Booth

Ernst & Young – Australia Banking Technology Leader

Financial services technology advisor. Passionate about Open Banking, platform transformation, data leverage, digital ecosystem, security and financial risk management. Outdoor cinema enthusiast.

Sydney, AUS

David Garfinkel

EY Americas Sustainable Finance FSO Technology Consulting Leader; Principal, Banking and Capital Markets, Ernst & Young LLP

Trusted advisor on enterprise change. Finance, risk, capital and regulatory leader. Deep experience driving data, technology, controls and reporting capabilities. Proud father, husband and son. Coach.

New York, USA

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EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

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