Surecomp Pioneers Automated ESG Scoring on RIVO to Help Drive Sustainable Global Trade

Published 

Surecomp announces that it has successfully completed a pilot of automated ESG scoring and tracking in its flagship trade finance solution RIVO. Based on an unrivaled dataset of more than one thousand transactions, covering more than seven hundred corporates, hundreds of goods and trade routes, ESG scoring can now be applied at a single trade finance transaction level.

Using the power of the collaboration platform RIVO, the trade finance ecosystem of financial institutions, corporates and shipping companies can connect to a world class range of ESG rating agencies, like Scope Group, Coriolis, WindWard, KYGTrade and more. This approach allows transactions to be independently scored according to pre-defined criteria based on data feeds from the ESG partners. This is a key step forward in enabling all parties – including those deeper within the trade and supply chain ecosystem – to mitigate the reputational and financial risk of engaging in unethical trade, while empowering them to actively manage their trade related ESG profile and monitor the environmental and social impact of their business.

Participating in the technology pilot of the sustainable trade framework proposed by the International Chamber of Commerce (ICC), Surecomp is pioneering the implementation of a comprehensive ESG score for each individual trade finance transaction. Consolidating market-leading data from best of breed ESG rating agencies, the scoring algorithm cuts through the complexity of combining partial ESG inputs from various sources and on multiple domains to provide one transaction-based rating in a convenient manner.

“We are delighted to support this innovative initiative with both corporate ESG Impact Review and our extensive data on maritime routes and vessels, taken from our Ship Review flagship product,” says Ralf Garrn, managing director at Scope Group.

“This is a first of its kind collaboration to look at the individual component parts of trade in relation to assessing ESG,” says Dr. Rebecca Harding, CEO of Coriolis. “We look forward to continuing our collaboration with Surecomp and providing industry leading accurate data on sustainable trade.”

“Having access to aggregated ESG data always provides better visibility and enables companies to establish controls over its trade counterparties. Solutions like RIVO aim to add visibility in this regard,” comments Valérie Bècheras Delhumeau, VP of Group Trade Finance & Contract Engineering at Schneider Electric. “It’s not just about improving the efficiency of processes to drive growth, it’s imperative to secure the future of our planet and society.”

“We are extremely proud to be the first trade finance solution provider to offer ESG scoring to both banks and corporates on an individual transaction basis,” explains Enno-Burghard Weitzel, Surecomp’s SVP Strategy and Digitisation. “Our mission is to help drive sustainable global trade by enabling customers to optimise their trade process as easily as possible. A growing number of financiers is providing preferential rates to sustainable finance. At the same time, external stakeholders are requesting greater transparency on the ‘sustainable’ portfolio of both banks and corporates. Providing access to real-time ESG data enables our customers to be compliance-ready, and to optimise their overall business beyond the narrow trade finance scope.”

Most recent episodes

Transitioning a Corporate from LIBOR to CME Term SOFR

The loans market has predominantly moved to forward looking term rates, and both corporate borrowers and global lenders are increasingly turning to CME Term SOFR as the forward looking risk-free benchmarks to support their activities. Listen to this podcast, featuring Gavin Lee, Marco Bianchi (CME...

37:16

HSBC’s Sibos Spotlight – View from Sibos

TMI's Eleanor Hill invites Neil Atkinson, Nadine Lagarmitte, and Vinay Mendonca (HSBC) to discuss the critical treasury topics and conversations highlighted at this year's Sibos conference in Amsterdam. Amongst a wealth of market insights, our guests consider the most critical developments emerging from...

38:40

ECB’s Targeted TLTRO Tweaks Set to Drain Excess Market Liquidity

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th...

05:42

Asian Treasury Trends: Learnings and Opportunities

Former corporate treasury professional, Valerie Heng (Deloitte) joins Eleanor Hill to discuss the hot topic of treasury transformation, alongside other key shifts treasurers should be aware of. In this podcast, Valerie uses her knowledge of the Asian Treasury market to explain how the role of the...

20:27

Collaborative Trade Finance: How to Unlock Liquidity at Speed

Imagine if trade finance applications were fully collaborative and corporates could communicate with every trade participant via an open digital hub.  In this podcast, Vincent Almering (Interfood Holding B.V.) and Enno-Burghard Weitzel (Surecomp) explain to TMI's Ben Poole how collaborative trade...

35:54

Critical Trends in Trade and Supply Chain Management

Three trade finance experts from Societe Generale join Ben Poole (TMI) in the virtual TreasuryCast studio to discuss critical developments in the trade space that are particularly impactful to corporate treasurers. In this podcast, Isabel Santos, Ariel Emirian and Pierre-Antoine Barreault (Societe...

21:32

Citizen Development: The New Productivity Engine for Corporate Treasurers

‘Citizen development’ is about encouraging non-IT professionals to learn software development skills. Here, Dor Haim (Kryon) questions whether, with the roll-out of low-code platforms, treasure...

07:09

Managing the Impact of Rising Interest Rates and Inflation

With interest rates rising as central banks try to contain inflation, a difficult balancing act is in progress. The responses of the various monetary policy committees are being watched with a keen eye by treasurers the world over as they consider their next actions. Tarek El-Yafi and Karen Hom (Standard...

08:21

Community Impact: Cash and Fixed Income Investing for Good

CNote is a tech-enabled impact investment platform – and a means for finance to be used as a “tool for economic justice”. Its focus on diversity, equity, and inclusion helps corporate and institutional investors use their capital to strengthen underserved communities.  Catherine Berman (CNote)...

13:37

TMI’s View from Sibos – with Lee McNabb, NatWest

Lee McNabb (NatWest) joins TMI's Eleanor Hill in the TreasuryCast studio to provide listeners with a valuable overview of the current happenings in the crypto marketplace. Our guest separates fact from fiction, clarifying the main misconceptions about digital currencies. Furthermore, find out the key...

14:39