GoldenSource announced today that Banca March has selected GoldenSource ESG Impact to manage data and analytics for its ESG-related investment and banking processes. Head-quartered in Palma De Majorca, Spain, the private investment bank will initially use GoldenSource ESG Impact to manage MiFID II sustainability preferences and then extend it to cover SFDR (Sustainable Finance Disclosure Regulation) obligations.
John Eley, CEO at GoldenSource said: “We are delighted that Banca March has chosen GoldenSource to support their strategic approach to managing ESG data and analytics. We designed GoldenSource ESG Impact to address the challenges that this relatively new and heterogeneous data type will present to market participants in the coming years. These include making sense of and operationalising the variety of data that’s available, plus using that data competitively and to remain compliant with evolving regulations.”
Banca March will manage ESG metrics such as scores across all ESG pillars, plus integrate securities-related data for the EU Taxonomy, greenhouse gas/carbon intensity, and ESG analytics. The initial ESG data feeds at Banca March will come from Clarity AI and Sustainalytics, for which GoldenSource will provide serviced Connections, ensuring automated data integration and zero maintenance effort for Banca March as the data sets evolve over time.
Sonia Colino, People, Brand and Sustainability Director at Banca March said: “At Banca March we believe that ESG data, managed well, offers competitive efficiencies and insights. With granular data, plug and-play analytics and the ability to work on ESG investment processes at the instrument, entity or whole portfolio level, Banca March is set to offer customers the best sustainable and responsible investment services.”
As part of the data strategy at Banca March, the approach to mastering and managing ESG data will be aligned with that of other enterprise data already managed in GoldenSource Security Master and Price Master.
About Banca March (https://www.bancamarch.es/en/)
Banca March is the parent company of one of the leading Spanish financial groups and the only 100% family-owned bank since its incorporation in 1926 remaining in Spain. Consistently with a cautious and long-term approach, Banca March’s business model is underpinned by solid financial and capital metrics: lowest NPL ratio in the Spanish market (1.90% vs an average of 4.29%), and capital (18.54%) and liquidity ratios (LCR at 217.74% and LCR at 153.35%) ratios among the highest in Europe. Banca March’s robust business model has also been acknowledged by Moody’s. The rating agency has confirmed the bank‘s long-term deposit rating at A3 with a stable outlook, ranking at the top in the Spanish banking system and also ahead of the Kingdom of Spain‘s, which stands at Baa1. Banca March holds a significant stake in Corporación Financiera Alba, a holding Company with stable, long-term investments in companies such as Naturgy (indirect), Acerinox, CIE Automotive, Ebro Foods, Viscofan, Befesam global Dominion, Parques Reunidos, Atlantic Aviation, ERM, Profand and Verisure among others.
About Clarity AI (https://clarity.ai/)
By providing broader coverage and deeper, more transparent and granular data than any other sustainability tech platform, we create the opportunity to pause, to reflect, to check and to ensure dollars are aligned with intended purpose(s).
About Sustainalytics (https://www.sustainalytics.com/)
Sustainalytics, a Morningstar Company, provides high-quality, analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies.