Financial services firm finnCap announced today a collaboration with London-based fintech company World Wide Generation (WWG), with plans to launch Company Tracker, a new digital sustainability monitoring and measurement App designed to enable small and mid-sized enterprises (SMEs) to measure and improve their social, economic and environmental impact.
Sam Smith, Chief Executive of finnCap Group plc, said:
“We are delighted to begin this partnership with WWG to help businesses realise their growth ambitions responsibly by improving their ESG performance. We believe nothing similar exists in the marketplace, so we are proud to take a pioneering approach that helps companies solve a complex problem which is of increasing importance.”
According to finnCap, the new tool will incorporate metrics from its recently launched ESG Scorecard, which provides small and mid-cap quoted companies with an objective means of measuring their ESG performance against key policies, standards, and frameworks. Company Tracker will also enable businesses to map their sustainability impact to the UN Sustainable Development Goals (SDGs). The app will reside on G17eco, a monitoring and marketplace ecosystem platform aimed at accelerating the financing and delivery of the 17 SDGs by 2030.
SMEs have been underrepresented among business efforts to tackle many sustainability issues, despite making up approximately 90 percent of businesses worldwide and employing over two billion people. In announcing the new collaboration with WWG, finnCap cited research from the Quoted Companies Alliance indicating that most companies are only at very early stages of planning their ESG approaches, with smaller companies being less knowledgeable on ESG matters. finnCap stated that the new partnership with WWG aims to close this gap.
Manjula Lee, founder and CEO of World Wide Generation, said:
“Through this collaboration with finnCap we want to play our part in ensuring that even during the pandemic, businesses are able to get access to the tools they need to define their purpose, put sustainability at the core of their business model, become resilient and help get them in front of the investors as soon as possible for scale-up. We want to make sustainability reporting literally and acronymically SIMPLE (strategic, interconnected, meaningful, purposeful, long-term, educative). I’m also particularly excited that two female CEO Founders got this ambitious strategy off the ground for the UK.”
Raymond Greaves, Head of Research at finnCap Group plc and creator of the finnCap ESG Scorecard, added:
“This partnership is a fantastic way to build on the recent launch of our ESG Scorecard, which provides businesses and investors with 15 factors to assess their performance. The new offering incorporating Company Tracker enables enhanced navigation and compliance to globally recognized standards and further helps companies turn what could be a difficult exercise into something that can be used to develop, execute and promote their ESG credentials internally and externally.”