TranspArEEns is a 30-month EU-funded project that aims to develop a qualitative-quantitative framework for the standardised collection and analysis of EE (energy efficiency) and ESG (Environmental Social Governance) information of small and medium-sized enterprises and deliver a standardised EE-ESG rating in accordance with the recommendations and benchmarks provided at European level by the EU Technical Expert Group on Sustainable Finance (TEG).
The project has strategic relevance considering that 99% of all European companies are SMEs. The question of ESG is of great interest to all small and medium-sized enterprises to be helped to understand and exploit their sustainability potential, especially in the field of energy efficiency. TranspArEEns is currently beginning to collect data with CRIF, an international company specialising in credit bureau, business information, risk management solutions, analytics, outsourcing and processing services and advanced planning for digital business and open banking.
"In the last 12 months, we have initiated a targeted and extremely careful process for the analysis of ESG factors starting from the data of listed companies. We have extensive knowledge of these companies as a result of their long-term involvement with Ca' Foscari and also the first master's degree course dedicated to sustainable finance, reflecting the growing need to provide the market with professionals and expertise on ESG issues. The Project dissemination activities have attracted a lot of interest and the great work done by the team of the Leibniz Institute for Financial Research SAFE, coordinated by Prof. Loriana Pelizzon, has allowed us to prepare, alongside CRIF, an advanced reference module with significant added value for participants, which is now making its debut," says TranspArEEnS coordinator Prof. Monica Billio of Ca' Foscari University of Venice.
The highly innovative approach of the Project, linked to a vision that encompasses both the major changes taking place currently and the tangible and potential risks visible on the horizon, has enabled the development and definition of a questionnaire that makes the standardised collection of indicators relevant to ESG criteria possible.
"Having already collaborated in 2017 on the Energy Efficient Mortgages Initiative project funded by the European Commission and coordinated by the European Mortgage Federation-European Covered Bond Council to define the first European Energy Efficient Mortgage, we are pleased to be able to contribute to the TranspArEEnS project by making our assets and decades of ESG expertise available to the economic system. We are promoters of this issue and aware of the importance of equipping the various market players - companies, financial actors and institutions - with a standard assessment model at European level that facilitates the sharing and dissemination of information on energy efficiency and ESG criteria, and that includes not only listed companies but also small and medium-sized enterprises," comments Marco Colombo, Managing Director Finance Italy of CRIF. "In the SME sector in particular, awareness of Environmental, Social and Governance issues is still being consolidated, so it is essential to be able to acquire and have access to qualified information in order to build a complete qualitative and quantitative picture. In this respect, CRIF provides the global SynESGy platform which, with transparency and collaboration at its core, on the one hand encourages and stimulates companies to move towards corporate management inspired by ethical criteria and to initiate paths of transformation towards sustainability, and on the other hand provides financial players and companies with a fundamental tool to understand their level of energy efficiency and, more generally, of sustainability.'
The SynESGy platform is based on international sustainability standards, including the Global Reporting Initiative, the UN Global Compact, the Carbon Disclosure Project and Taxonomy guidelines, and was developed according to the latest security technology.