Transcendent Group strengthens its offering by integrating ESG (Environmental, Social and Governance) advisory in its services. The focus is to support clients in the financial industry, where the awareness of the impact of ESG factors on governance, risk and compliance has reached a new level of maturity.
Integrating ESG aspects into business-critical areas such as strategy, compliance and risk management is a necessary next step for many organizations. This trend is accelerated by regulations based on, among other things, the EU's strategy for sustainable finance within the framework of the Green Deal, the Taxonomy Regulation, and guidelines from the European Banking Authority (EBA).
For many financial companies, ESG is an unexplored area that is managed by separate sustainability teams with limited relevance in other parts of the operations, even though incorrect actions in these matters can lead to extensive market and operational risks.
Transcendent Group has initiated a number of ESG projects for existing customers in the financial industry and expects increased demand as the regulations continue to develop.
“It is time to look at risk management and reporting in the ESG areas with the same scrutiny as in financial management and reporting, and we are ready to support our customers to take the next step. At Transcendent Group, we have developed our offering in this area to continue to be at the forefront as the conditions within Governance, Risk and Compliance are changing,” said Martin Malm, CEO, Transcendent Group.