Global Sustain presented the comprehensive non-financial data collection, analysis and evaluation application that enables the registration and evaluation of data related to environmental (E=Environmental), Social (S=Social) and Governance (G=Governance) issues.
The application – the Global Sustain Rating – as stated by Michalis Spanos, Managing Director of Global Sustain, has been developed to be used by businesses and organizations regardless of size and industry, banks and fund providers (investment companies and fund management companies) to support business, credit and investment decisions.
The Global Sustain Rating has been developed based on the latest developments in the regulatory framework at international, European and national level (requirements for disclosure of non-financial information and due diligence controls in the supply chain) taking into account best practices and assessment areas of the most widespread sustainable standards and initiatives development (such as SDGs, GRI and Global Compact). As pointed out, Global Sustain Rating offers transparency in data sources and methodology, timelessness, accuracy and reliability in ratings, final rating or score and individual ratings per pillar E, S, G, rating report with relevant explanation , the data on which the calculation of the rating has been based, comparability of ratings between similar entities (benchmarking) and proposed actions for improvement. The Global Sustain Rating makes a significant contribution to identifying and quantifying the incorporation of ESG factors by entities, improving the image of entities in the market, and access to finance and responsible value chains.
The new tool was presented during an event themed “Into the Green: Sustainability for Prosperity” organized by Global Sustain in collaboration with its strategic partner, Generation Y. At the event, the Minister of Development and Investments, Adonis Georgiadis (with a taped message), the Governor of Attica, Georgios Patoulis, as well as the President of the Capital Market Commission, Vasiliki Lazarakou, addressed the event, while members of the Global Sustain and GY networks attended.
“With the official data confirmation of TUV Austria Hellas that has the GS Rating and the operation of a Rating Committee consisting of institutions and business entities, businesses (and especially small and medium-sized ones) are now given the opportunity to collect, manage and evaluate ESG data , reinforcing the “green” sign that today is deemed necessary to govern every spectrum of their activities”, commented Michalis Spanos, Managing Director of Global Sustain, who presented the application.
Business executives from various sectors of the Greek economy, such as the energy, pharmaceutical, and financial sectors, presented the ways they have incorporated EFG practices into their operations, with an emphasis on sustainable development. The common conclusion was that despite the new challenges that have appeared, the adoption of business practices related to the environment will continue to be among the priorities of business decisions.
“With Global Sustain as our strategic arm for ESG issues, the team of our emerging Business Group feels particularly happy about this upcoming initiative of the Green Private Club, with the aim of networking leading Greek companies, as well as creating opportunities that will catalyze their sustainability and lay the foundations for a greener digital business ecosystem,” said Anastasios Spanidis, CEO of Generation Y.
SOURCE: APE-ME
Source: Capital
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