Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Lack of transparency in KPIs could contribute to a shortage of available observable market information, creating accounting challenges.
• Greenwashing risks due to inappropriate KPI choices or inaccurate information during verification.
• Difficulty in achieving meaningful transition in a short observation period.

Mitigation Strategies

• Establishing a transparent, common framework of best practices for KPIs.
• Using independent third-party verification to minimize moral hazard and conflicts of interest.
• Choosing KPIs that are material, strategically significant, consistent with ESG strategy, within the counterparty's control, sufficiently ambitious, and address meaningful sustainability issues.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• EU financial sector customers do not have effective control over their data in order to access data-driven services beyond payments. This results in a limited supply of data-driven services.
• Customers hesitate to share their data due to lack of trust (confidentiality breaches, privacy violations, lack of control over data use, lack of enforcement of consumer rights, cybersecurity risks).
• Customers cannot make their data available to data users because data holders are not legally obliged to enable access (data portability right under Article 20 GDPR is difficult to exercise in practice, unequal bargaining power between data holders and users).
• Customer data and interfaces in the financial sector beyond payment accounts are not standardized, rendering data sharing more costly (inconsistent data formats, lack of common standards, absence of standardized APIs).
• Data holders lack incentives for implementing high-quality interfaces for data users (upfront costs, coordination problems, competition considerations, uncertainty about liability rules).

Mitigation Strategies

• Require market participants to provide customers with open finance permission dashboards, set eligibility rules on access to customer data and empower ESAs to issue guidelines on personal data use perimeters.
• Mandate access for data users to selected customer data sets across the financial sector.
• Require market participants to develop common standards for customer data and interfaces concerning data that are subject to mandatory access as part of schemes.
• Require data holders to put in place APIs against compensation, implementing the common standards for customer data and interfaces developed as part of schemes and require scheme members to agree on contractual liability.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 8, SDG 9, SDG 7, SDG 13

Open finance can support inclusive growth, resilient infrastructure, affordable and clean energy, and climate action.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed