Deloitte and Persefoni to help financial sector decarbonise

24 November 2022 3 min. read

With increasing demand for addressing the impacts of climate change, banks and insurers are facing new difficulties. Deloitte is teaming up with Persefoni to roll out a new integrated solution, to measure climate exposure, comply with new regulations, and make better data-based decisions.

Persefoni is a climate management and accounting Platform (CMAP), providing businesses, financial institutions, and governmental agencies the software fabric for managing their organisation’s climate related data and performance with the same level of confidence as their financial reporting systems. The company’s software solutions enable users to calculate their carbon footprint, perform climate trajectory modeling aligned to temperature rise scenarios set forth by the Paris agreement, and benchmark their impact by region, sector, or peer groups.

As Deloitte looks to help its clients on the road to net zero, it has formed a strategic alliance with Persefoni. The collaboration will see the firms develop analytics solutions for the banking and insurance sectors, helping firms in the sector find a new path for measuring, disclosing, and managing their carbon footprints — both operational and financial — as part of their climate journey.

Deloitte and Persefoni to help financial sector decarbonise

Ricardo Martinez, Deloitte Risk & Financial Advisory’s sustainability, climate and equity practice leader, for financial services, said, “Leveraging the rich data in Persefoni’s platform alongside Deloitte’s related analytics and services, we can help organisations through their end-to-end ESG transformation. As banks and insurance organisations look to address carbon accounting requirements by understanding and evolving the financed emissions in their portfolios, our shared clients will be able to chart those financed emissions, analyse critical business risks, identify opportunities to enhance the composition of their financed portfolio, and prepare to meet their disclosure and reporting obligations.”

As chiefs of sustainability and finance work together to address their CMAP needs, Persefoni and Deloitte’s shared clients can now use Persefoni’s software platform as well as Deloitte’s deep understanding of environment, social and governance (ESG) practices and financial analytics to help address their sustainability and climate goals. The partnership has also seen Deloitte develop and integrate accelerators, analytics tools, and capabilities to help clients in the financial services industry understand risks and value-creation opportunities based on financed emissions portfolio data.

The financial services sector currently faces mounting pressure from governments, regulators and capital markets, banks of all sizes are moving towards disclosure of its operational and financed emissions footprint. As banks and insurers work to meet their net zero goals and better mitigate their climate exposure, developing robust CMAP use will be critical, especially as ESG disclosures become further codified and regulated.

“Persefoni is excited to formalise our alliance with Deloitte, a global leader in sustainability, climate and equity strategy and transformation, and trusted advisor to many of the world’s largest companies and financial institutions,” said Kentaro Kawamori, CEO and co-founder of Persefoni. “Enabled by Persefoni’s best-in-class technology platform and Deloitte’s leading sustainability, digital transformation, risk, advisory, and reporting services, our shared clients in the banking and insurance sectors will have access to the best possible support on their climate journeys — from meeting compliance requirements to analysing climate exposure within their portfolios and optimising business strategies.”