top of page

Why is now the time to invest in an ESG system?

The European Central Bank has provided clear guidance on Pillar 3 disclosures on ESG risks faced by Banking Institutions.

The guidelines are addressed to banking institutions with securities traded on a regulated market in any Member State, and include:

  1. tables for qualitative disclosures on environmental, social and governance risks,

  2. templates with quantitative disclosures on climate change transition risk,

  3. a template with quantitative disclosures on the physical risk of climate change,

  4. templates with quantitative disclosures and key performance indicators (KPIs) on climate change; mitigation measures, including the green asset ratio (GAR) for Taxonomy activities; activities under Regulation (EU) 2020/852 to facilitate sustainable investment.

In so doing, the Banking Supervisory Authority specifies the disclosure requirements with a goal of achieving sufficiently comprehensive and comparable information for the assessment of the risk profile of banks from their portfolio.

What does this mean for businesses?

Banks, in their turn, following the instructions they have received from their supervising authority will ask for clear commitments from the businesses in order to finance them.

So this means specific objectives that are often supported by metrics, including:

  • Optimising their energy efficiency by reducing total energy consumption per unit of output product

  • Reduction of CO2 emissions per unit of output product

  • Reduction of water consumption per unit of output product

  • The reduction of waste generated by their production process

  • The increased use of recycled raw materials etc.

Businesses should be able to manage and monitor all this data. The volume and type of such data will increase. Stakeholders will demand transparency. And the need for transparency is different for each stakeholder.

Today, most of the businesses use email and spreadsheets to collect and manage data. These tools may be adequate for small businesses, but they are outdated and completely inadequate for larger businesses and this can be a serious obstacle for them if they do not acknowledge it in time.

Ε-ΟΝ RIBIA ESG is an Integrated ESG Data Collection and Reporting System, which helps to automate both data collection and reporting in an easy, systematic and structured way.

  • Automatically generates sustainability reports (Athens Stock Exchange, Banks, CSR)

  • Based on international standards (TCFD, GRI, CDP) and national practices (ATHEX-ESG)

  • It includes rich reporting (dashboards, KPIs, indicators)

  • Links ESG data to financial data

  • Offers transparency, collaboration and real-time traceability

  • It is fully adaptable to the needs of each business

  • It is offered at a highly competitive price and without the need for an initial investment (SaaS)


bottom of page