Derrick Liao, chief operating officer of Nexus FrontierTech, believes that most of the consolidation will take place in the upstream portion of the ESG data value chain, which involves the streamlining of data collection and reporting and the harmonising of standards.
The ESG (Environmental, Social, and Governance) data market has surpassed $1bn for the first time in 2021 and is expected to exceed $1.3bn by the end of 2023, with a growth rate of 28% over the past five years. The demand is primarily driven by regulatory pressures for greater ESG ratings scrutiny, increased forward-looking models, financial and ESG data integration, and the expansion of data coverage into emerging markets and private companies.
Experts foresee that there may be a push towards integrated solutions, where each player provides more integrated services, and Nexus FrontierTech is proud to be at the forefront of this advancement in the ESG data industry with our centralised ESG portal that ingest data for research through to analysis and decision-making.
Read full article here: https://www.businesstimes.com.sg/esg/regulatory-pressure-consolidation-mark-evolution-esg-data-industry
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