There is a demand from consumers on businesses that they must accurately report their impact on society and commit to improving social outcomes through their activities. However, for a long time, firms have struggled to achieve this. Looking to make social impact data reporting easier, Experian UK&I, the multinational consumer credit reporting agency has partnered with Impera Analytics, the data-driven solutions designed to advance social progress.
Organisations across the UK and Ireland are eagerly trying to find ways to enhance their environmental, social and governance (ESG) commitments. One way in which this can be achieved is with comprehensive social impact data. By leveraging data from the globally recognised Social Progress Index (SPI) within Experian UK&I’s ESG Insight product, businesses in the financial services sector can gain an accurate band holistic view of social progress and outcome data, helping them to develop their ESG profiles.
Experian UK&I’s ESG Insight tool already gives lenders a clear view of the financed emissions and sustainability risks hidden in a portfolio. It provides numerous sustainability and emissions attributes for more than five million SMEs, backed by Experian’s trusted business information data.
Scott Harrison, director market engagement, business information, Experian UK&I said: “There is increasing demand from financial services to have a real, granular understanding of the societal impact of the funding they provide to businesses within their portfolio.
“By working with Impera to enhance our ESG solution, we can deliver the insights needed for businesses so they can quantify progress towards achieving their sustainability goals.”
Working with Impera Analytics
Developed by Impera Analytics, the English SPI curates more than 50 datasets at a Local Authority level, including data on educational outcomes, health outcomes, environmental issues, and inclusion, into a single usable score out of 100.
This solution pulls together data from multiple sources used by public bodies providing organisations with the tools to report, analyse, and act on social progress in areas where they operate and have stakeholders, suppliers, or customers.
The Impera Analytics dataset will complement the findings from Experian UK&I’s ESG Insight tool, breaking down the results into each English Local Authority area and providing even more granular insight into a company’s social impact.
Pye Nyunt, CEO of Impera Analytics said: “Financial inclusion is a cornerstone of social progress. By partnering with Experian to provide more enhanced social outcome data to the financial services sector, we’re supporting businesses to measure their social impact. Consequently, we want to develop products and services that are inclusive and accessible to a wide spectrum of society.”
