(Credit: Canva Pro)Sphera, an ESG performance and risk management software company, has unveiled its SpheraCloud Corporate Sustainability–Portfolio Management, a platform that helps organizations to effectively measure and manage their portfolio's carbon footprint, assess climate-related risks and opportunities, integrate climate strategies, and meet ESG reporting requirements.
As financial institutions are increasingly compelled to report financed emissions resulting from their daily financial activities, Sphera's software is poised to revolutionize how these emissions are captured and analyzed.
The software, hosted on Sphera's Software as a Service platform, leverages analytics and artificial intelligence to enable financial institutions to collect, calculate, report, and manage financed emissions with precision. Key features of SpheraCloud Corporate Sustainability–Portfolio Management include automated data collection, a robust calculation engine, integrated emissions factor libraries, portfolio performance management, and audit-proof reporting.
By utilizing industry standards and deep domain expertise, the software attributes emissions to specific financial assets, allowing financial institutions to quickly assess the emissions footprint of their investment and lending activities, improve data quality, and align with their decarbonization strategies.
The software has been specifically designed to assist business leaders within financial institutions in accurately assessing, calculating, and reporting financed emissions in accordance with the Partnership for Carbon Accounting Financials and Greenhouse Gas Protocol standards. This standardized approach enables financial institutions to transparently and credibly measure financed emissions across their portfolios, satisfying investor and stakeholder requests.
Sphera collaborated with Blackstone, a leading investment firm, to ensure that the software meets the unique needs of the financial services industry and its investors.
Paul Marushka, CEO and president of Sphera, highlighted the importance of enabling companies to set science-based targets and report their carbon footprint accurately. He emphasized the need for financial institutions to adapt their business models and embrace the necessary tools to address current and upcoming regulatory policies. SpheraCloud Corporate Sustainability–Portfolio Management provides financial institutions with the capabilities to identify and manage climate-related risks and opportunities associated with portfolio management.
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