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Upright starts global distribution of its net impact data in partnership with Nasdaq
Upright enters collaboration with American financial services corporation Nasdaq on June 29th, marking the first global distribution partnership of its net impact data.
Published Jun 29, 2021
The partnership is part of Upright's strategy to make its net impact data available to all asset owners and asset managers globally.
"Our aim is to become a de facto standard in describing holistic value creation and impact of companies. We believe big picture data like this is needed to prevent investors from drowning in masses of details about individual impacts without understanding the relative scale and importance of them," says Upright founder and CEO Annu Nieminen.
Upright's plans include various partnerships to accelerate the adoption of the net impact approach. "Many investors today are considering "skipping the ESG phase" and moving on directly to impact data, to be able to report and improve on things their clients most ask about. We see this as a positive trend, as it puts more pressure to actually define what questions ESG and impact data should aim to answer and why," Nieminen says.
Concretely, the partnership enables investors to get Upright's datasets from Nasdaq's new ESG and impact data platform easily via Nasdaq's API and combine the net impact information with other non-financial and financial data. Typical use cases for investors include building new investment products with a clear net impact goal, scenario testing and reporting, tracking the development of their investments in time, and stress-testing the net impact of their investments against different sets of values held by different stakeholder groups.
For Nasdaq, this partnership is part of expanding into impact-related data. “As companies’ impact on environment, health, society and knowledge becomes increasingly important to investors in their decision making processes, we are excited to partner with Upright, a leading provider of intelligence used to quantify the net impact of companies”, says James McKeone, VP, Head of European Data at Nasdaq.
The partnership launch also marks Upright's product expansion to include data required by the new EU Sustainable Finance regulation into its model and offering for investors and companies. "Many European investors and companies are now wondering where to get the actual data for the new Principle Adverse Impact (PAI) indicators and EU taxonomy data required by the new EU regulation. By integrating the SFDR and EU taxonomy data into the net impact profiles of companies and funds, we want to help investors and companies comply with the regulation while keeping the big picture of their impact clear," Nieminen states.
Concretely, as of September 2021, investors can access not just their net impact profiles, but also their EU taxonomy eligibility and alignment percentages, as well as Principle Adverse Impact indicator estimates, via the Upright Net Impact Platform.
More information
June 29, 2021
Upright Project
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