Investment industry service and solutions provider The Asset Management Exchange (AMX) announced today the launch of AMX Zero, a climate reporting hub aimed at helping pension trustees meet rapidly increasing regulatory requirements to report on climate-related risks and opportunities.
The new hub was launched in response to increasing regulations for pension schemes to address climate change and demonstrate the sustainability of their portfolios. Large pensions schemes in the UK will be required to report on the financial risks of climate change, in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), within their portfolios by late 2022, followed by smaller schemes in subsequent years, and similar requirements are expected for funds in other jurisdictions as well over the next few years.
According to AMX, the new online hub aims to manage the complexity of connecting and collecting data for climate reporting on behalf of pension funds, providing a single place to connect funds’ ESG service providers, connecting fundamental, emissions, index and portfolio data. The hub will produce 5 standardized metrics used to produce TCFD reports, with users able to use AMX’s standard TCFD report.
Oliver Jaegemann, CEO, AMX, said:
“AMX Zero is a service that brings together investment consultants, asset managers, data and climate specialists through one seamless and accessible technology solution. If the investment industry is to lead the way, we must come together to create a solution that facilitates standardised climate-related reporting for all pension schemes.
“Simply put, we cannot rely on the tools of the past to solve the most complex challenge of modern times.”