Building a green future for a global financial services leader

The firm implemented the Climate DataStore to meet the Paris Agreement’s net-zero emissions targets on a portfolio level, reduce its financed emissions, increase ESG data monitoring, and transition away from high-emission activities

Client Challenge: A leading international financial services firm wanted a strategy to achieve its net-zero goals and meet the requirements established by the Paris Agreement.

Solution: By partnering with Capgemini, the organization established the Climate DataStore and supporting infrastructure to measure financed emissions and develop a roadmap to more sustainable business practices.

Benefits:

Alignment with the Paris Agreement across the value-chain
One-million-pound reduction in ESG data vendor costs
Foundation and financing for further green initiatives

Leading the charge in sustainable finance

Following the Paris Agreement, which provided new guidelines for sustainable practices, a leader in international financial services set a goal to become a net-zero enterprise in order to align with those standards across all sectors. This accelerated the need for a broad and dynamic transformation, as the company processed over one trillion assets that would need to be transitioned.

Staying ahead of the curve and maintaining its leadership position meant that the firm would need to adapt quickly while maintaining its high level of service. To do so, the company engaged Capgemini with the goal of leveraging a robust environmental, social, and corporate governance (ESG) team and implement a more sustainability-oriented culture. In addition, this would enable the firm to seize the opportunity to tap into the green market and widen the scope of its activities.

From compliance to market leadership

The project launched with an assessment of the firm’s ESG standing and infrastructure. This included disclosure formats, data-sourcing, and its status of compliance with the Paris Agreement. As a result of this internal review, the partners agree to implementing the Climate DataStore (CDR) to track financed emissions.

This solution is composed of a global team network that focuses on European Union (EU) reporting needs. After its implementation, the firm gained the flexibility to scale its targets both horizontally and vertically. In addition, the firm organized a group-wide climate strategy, which included a commitment to the creation of an operating model, centralization of climate data, and consolidation of the company’s vendors.

All of this enabled the partners to harness a sustainability framework, with which the company better aligned with its stakeholders and determined group-wide risk. The CDR also made it easier to assess climate data and regulatory reporting needs. Simultaneously, the company harnessed a Vendor Decisioning portal to centralize management of ESG data throughout its enterprise and reduce implementation costs.

Growing value and a greener industry

The firm aligned its enterprise with the Paris Agreement and took better control of its data to create a clear roadmap to the fulfillment of its ESG targets. As of today, the company is in compliance with climate regulations while also carving out its own space in the market.

With centralized climate data captured in the CDR, the firm is now able to actively track and scale its operations and supply chain to fit its sustainability goals. This also allows the organization to map its progress with data-driven insight and compare the results with its portfolio to optimize performance, unlocking market value. It has also allowed the company to cut vendor expenses and push for greener, more sustainable practices throughout the value chain.

Following the project, the company has adopted a future-ready position with constant upgrade and data services. The organization has access to innovation workshops to help maintain its industry-leading position.