Data management provider Rimes has launched an ESG data management service designed to help asset managers “identify truly sustainable assets”.

Rimes is one of many data providers to have focused on developing sustainable investment market data where the lack of standards around ESG disclosure have been cited as an issue by investors, fund promoters and regulators.

 “Any firm serious about long-term success needs to be addressing ESG now and ensuring that they have in place robust data management and reporting capabilities required to provide clients and regulators transparency within portfolios and products regarding E, S, G and climate factors,” said Elisabeth Seep, ESG project manager at Rimes.

The launch comes in the wake a warning issued by the UK’s Financial Conduct Authority about the poor quality of ESG fund applications.

In addition, a survey issued this month by XPS Pensions Group found that more than two thirds (68%) of fiduciary managers do not properly incorporate ESG risks into their investments.

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