Technology Record - Issue 32: Spring 2024

FINANCIAL SERVICES source of truth,” says Hauser. “Users can then use AI-powered tools to manage and get intelligence from that data. For instance, they can use generative AI-based copilots to ‘chat’ with their data, or summarise ESG news articles and compare company statistics to create reports and presentations. They can also build intelligent ESG-specific AI models and tailor-made AI analytics from a unified data platform and democratise access to insights.” In addition, Microsoft Cloud for Sustainability is a software as a service solution that enables organisations to record, report and reduce their emissions on their path to net zero. It provides capabilities and tools such as the Microsoft Sustainability Manager (MSM), which includes Copilot, a generative AI assistant, and intelligent insights to deliver actionable insights and deeper analysis of calculated emissions data. And the ESG Value Chain solution helps customers measure and improve their ESG performance across their value chain. It leverages MSM, Microsoft Power Platform and Azure to simplify data collection from suppliers and helps to manage ESG data from various sources and stakeholders in real time. “One of the key challenges for businesses is to consolidate structured and unstructured data from internal and third-party sources into a unified data hub for ESG,” says Hauser. “Firms struggle to collect and keep track of data beyond their firm, especially Scope 3 data emissions that include all indirect emissions that occur in upstream and downstream activities of an organisation, which are difficult to manage, verify and control. The ESG Value Chain solution is important because it enables organisations to gather data directly from their value chain partners facilitating greater transparency and accountability to calculate their Scope 3 emissions.” Collaboration to achieve ESG goals “Microsoft, in collaboration with its partner ecosystem, is empowering financial services institutions on their path to net zero, leveraging a comprehensive data management estate combined with AI-powered analytics, enabling them to innovate with customerfacing solutions,” says Hauser. Microsoft’s $1 billion Climate Innovation Fund supported Mitiga Solutions with the development of its Climate Risk Score platform, which measures ESG risk models for businesses. The platform, powered by Microsoft Azure, can assess the impact of climate change on firms and helps them comply with global climate regulations, with insights directly available in their customer relationship management systems, such Photo: iStock/fotoVoyager “ Microsoft, in collaboration with its partner ecosystem, is empowering financial services institutions on their path to net zero” 87