Northern Trust and Equity Data Science (EDS) have introduced a new tool that focuses on investors’ environmental, social, and governance (ESG) needs.

The new digitised data aggregation solution is designed to enable investors to gain access and disseminate ESG data.

It uses data science to offer additional transparency into ESG information. The ESG workflow solution also helps in improving efficiency and cooperation among various investment teams.

Northern Trust head of investment data science Paul Fahey said: “We know that implementing ESG is a top concern for our clients, so EDS and Northern Trust have come together to launch our new ESG workflow solution to provide our clients with a single source for their data.

“This enables more efficiency and transparency for investment teams and helps clients streamline their data and reporting processes.”

The ESG data aggregation tool is capable of automatically capturing ESG data from the market and specialist vendors, according to Northern Trust.

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It can facilitate the integration of traded data, such as notes and commentary, for making ESG-related data available through a single window.

The tool also features several workflow solutions that digitise the processes of collecting, reviewing and explaining ESG scoring and measures, among others.

Furthermore, analytics and dashboards of the tool help analysts and portfolio managers to question, view, compare, and decompose ESG scores from key vendors.

EDS president Greg McCall said: “The ESG workflow solution helps clients tackle several issues brought on by the complexities of ESG data without altering their processes.

“This allows investment teams to modernise and integrate their ESG data across the entire investment lifecycle, empowering them to further harness their ESG data.”