Surecomp debuts automated ESG scoring on RIVO

Tuesday 11 October 2022 10:50 CET | News

Canada-based trade finance solutions provider Surecomp has completed a pilot of automated ESG scoring and tracking in its trade finance solution RIVO. 


Through RIVO, trade finance ecosystem of financial institutions, corporates, and shipping companies can connect to a range of ESG rating agencies, such as WindWard, KYGTrade, Scope Group, or Coriolis. Transactions can thus be independently scored according to pre-defined criteria based on data feeds from the ESG partners. By following this process, all parties, including companies deeper within the trade and supply chain ecosystem, can mitigate the financial risk of engaging in unethical trade, while allowing them to manage their trade related ESG profile and monitor the environmental and social impact of their business.

ESG scoring is based on a dataset of more than one thousand transactions, covering more than seven hundred corporates, hundreds of goods and trade routes. The system can now reportedly be applied at a single trade finance transaction level.


Canada-based trade finance solutions provider Surecomp has completed a pilot of automated ESG scoring and tracking in its trade finance solution RIVO.


How Surecomp ensures ESG implementation

Surecomp offers digital trade finance solutions for banks and corporations. The company provides an innovative portfolio of cloud and on-premises solutions to streamline the trade finance transaction lifecycle, enhance operational efficiency, ensure compliance and drive growth. With a global footprint of eight offices in Toronto, New York, Santiago, Buenos Aires, London, Hamburg, Tel Aviv and Singapore, Surecomp has a customer base in over eighty countries across the world. 

Surecomp debuted the implementation of a comprehensive ESG score for each individual trade finance transaction while participating in the technology pilot of the sustainable trade framework proposed by the International Chamber of Commerce (ICC). 

The scoring algorithm developed by Surecomp is designed to reduce the complexity of combining partial ESG inputs from various sources and on multiple domains to provide one transaction-based rating in a convenient manner. Valérie Bècheras Delhumeau, VP of Group Trade Finance & Contract Engineering at Schneider Electric explained that ‘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. 

The global ESG investments market size

According to a report by Acumen Research and Consulting published in August 2022, the global investor ESG software market size accounted for USD 558 Million in 2021 and is predicted to be worth USD 2,011 Million by 2030, with a CAGR of 15.7% during the forthcoming period from 2022 to 2030.

In North America, the investor ESG software market led with more than 30% market share in 2021, while the Asia Pacific investor ESG software market is expected to register the fastest CAGR during the forecast period.

According to the report, expanding urbanisation, strong BFSI, and retail industry, and increasing consumer income levels in Asia Pacific created a fertile ground for the rapid development of the investor ESG software market. Moreover, Acumen estimates that the rise in federal environmental programs and regulations, combined with an increase in millennials in the workforce is likely to propel the investor ESG software market growth.

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Keywords: ESG, product launch, trade finance, B2B payments
Categories: Banking & Fintech
Companies: Surecomp
Countries: Canada
This article is part of category

Banking & Fintech


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