Banca March selects GoldenSource for ESG data management

By Joy Dumasia

GoldenSource announced that Banca March had selected GoldenSource ESG Impact to manage data and analytics for its ESG-related investment and banking processes. Headquartered 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.”