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New tool to track corporate transparency & sustainability

Apr 10, 2017

A new tool called Arabesque combines big data and artificial intelligence (AI) to launch a unique corporate transparency tool.

New York: A new tool that allows investors, regulators, NGOs, corporates, and consumers to monitor the sustainability of over 4,000 of the world’s largest corporations has been launched last week.

Known as Arabesque S-Ray, the tool is designed to streamline vast amounts of environmental, social, and governance (ESG) information into one easy-to-use, smart application. Processing over 150 million data points daily, it can be used in three unique ways to evaluate companies.

This tool is the first of its kind technology to score companies’ performance on the normative principles of the United Nations Global Compact: Human Rights, Labour Rights, the Environment, and Anti- Corruption. This is combined with a function in Arabesque S-Ray that allows anyone to search how companies are compatible with their individual preferences on issues such as fossil fuel consumption.

John Ruggie, Berthold Beitz, Professor in Human Rights and International Affairs at the Harvard Kennedy School, said, Arabesque S-Ray is a unique initiative unleashing big data to provide rankings of the sustainability practices of the largest listed companies in the world.

Cobus de Swardt, Managing Director of Transparency International, added: “The public availability of companies’ sustainability data is crucial for the larger goal of good corporate governance and integrity.”

S-Ray’s unbiased algorithms harness the power of artificial intelligence, reading countless data points to produce a daily snapshot of a corporation’s sustainability.”

The technology has been developed by Arabesque, an ESG Quant asset manager that uses self- learning quantitative models and big data to assess the performance and sustainability of companies.

Talking about the launch of Arabesque S-Ray, Kofi Annan, former Secretary-General of the United Nations and Nobel Peace Prize recipient, said that the power of transparency will help to create more sustainable corporate practices.

Through the use of machine learning, Arabesque S-Ray systematically combines hundreds of ESG metrics with news analysis from over 50,000 sources across 15 languages, with each company given a proprietary ESG score.

Confirmed to be piloted as an integrity measure by the United Nations Global Compact later this year, Arabesque S-Ray is available to the general public for free with a three-month data delay.

A paid subscription service for corporations, investors, and investment professionals has also been released, with access to daily information, an in-depth dashboard on each company, and download functions.

The evaluation can be done through GC Score, ESG Score and ESG Score.

G C Score – It is an assessment of each company based on the normative principles of the United Nations Global Compact.

ESG Score – It is a sector specific analysis of each company’s performance on ESG issues.

Preferences Filter –It is a search tool that allows anyone to check the business involvements of thousands of companies.

Omar Selim, CEO of Arabesque, said: “With its name inspired by the impact of the X-Ray on medicine, Arabesque S-Ray™ enables anyone to look beyond a company’s surface. Our objective is to take sustainability into the mainstream by making it available in a practical and cost efficient way.

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