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K2 Integrity, a leading compliance and risk advisory firm, today announced strategic partnerships with RepRisk, a leading ESG data science firm combining AI and machine learning together with human intelligence to identify ESG risks, and Novata, the leading ESG data management platform built for the private markets, to bolster K2 Integrity’s new ESG fund certification solution.
The partnerships complement K2 Integrity’s existing partnership with the Maples Group, a leading provider of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services with specialized ESG expertise and solutions. K2 Integrity and the Maples Group formed their partnership to launch a first-of-its-kind ESG certification earlier this year. The Maples Group will provide K2 Integrity with increased access to proprietary ESG data collection and management data, tools and expertise to streamline the certification’s analysis processes. The work with each firm will also allow K2 Integrity to offer bespoke certification offerings that align with specific regional jurisdictions.
“The need to validate and quantify ESG initiatives has never been greater,” said Andrew Rabinowitz, Co-CEO of K2 Integrity. “We started our ESG practice and developed this new offering to meet increased demand for transparency from stakeholders, regulators and the investment community to address important issues such as diversity, equity and inclusion, sustainability, and strong governance, and combat accusations of greenwashing. These partnerships with RepRisk, Novata, the Maples Group and other leading ESG experts will allow us to further advance our ESG certification program and help managers verify to the marketplace, limited partners and regulators that their offerings are aligned with what is being advertised.”
K2 Integrity’s new ESG certification solution builds on the firm’s longstanding reputation for assisting clients with all forms of risk management and regulation compliance. Through rigorous, independent analyses of managers’ and funds’ disclosures and independent investigation research, the new certification program analyzes ESG products to certify they are compliant with local ESG regulations, including those from the U.S. Securities and Exchange Commission and the recent Sustainable Finance Disclosure Regulation (SFDR) in Europe, as well as deliver on their ESG targets as advertised. The solution also evaluates offerings to make sure proper ESG targets have been set and certifies if those targets are being met.
Neelam Sharma, Chief Business Development and ESG Officer of K2 Integrity, added: “ESG compliance is a priority, we have successfully been able to respond to this industry need and launch an end-to-end ESG solution. While there’s more work to be done, we’re proud of the progress we’re making and continue to see strong demand for ESG certifications from clients inside and outside of the financial industry. With the increased support from these partners, we will be able to continue to advance our ability to help ensure compliance with increasing ESG regulations.”
The partnership with RepRisk will provide K2 Integrity with access to RepRisk’s independent ESG risk data – pulled from over 100,000 sources in 23 languages, and avoiding company self-disclosures – to refine the new certification solution’s analysis process. The partnership with Novata will provide the firm with access to Novata’s industry-leading, proprietary data collection and management software to streamline these processes. Over the past year, K2 Integrity and the Maples Group have partnered together with investment managers and academics from such renowned institutions as Cornell, Carnegie Mellon, Columbia, and University College-London to develop a robust, thorough, meaningful and independent ESG assessment certification for fund managers and funds. Together, the partnerships will allow K2 Integrity to customize the solution to offer different certification types that align with regional ESG regulations.
Alexandra Mihailescu Cichon, Executive Vice President at RepRisk, added: “When we look at our data, one of every five climate-related ESG incidents over the past two years was also linked to misleading communication (greenwashing). This presents a challenge for investors when it comes to separating empty promises from meaningful action, and a challenge for funds in proving their credentials. We are excited to partner with K2 Integrity to help tackle this unique challenge and deliver greater transparency and accountability to the market – while also supporting investment firms in making more sustainable investment decisions.”
Josh Green, Chief Operating Officer and Co-Founder of Novata, added: “Today, appropriate measures of risk have expanded to include ESG considerations, since many ESG metrics directly affect how a company performs and, in turn, its financial value, presenting a whole new host of compliance and regulation concerns. We are very pleased to partner with K2 Integrity on their ESG certification program and help investors, managers, regulators and other stakeholders have confidence in the ESG products on the market.”
Mark Weir, Deputy Global Head of Fund Services for the Maples Group, added: “We recognize the importance of ESG and the role that our industry can play in contributing to societal good. Most recently, we have expanded our services in ESG to include the Maples Group ESG Platform ICAV. The platform is an Irish Collective Asset Management Vehicle regulated by the Central Bank of Ireland and offers a turnkey solution for clients looking to launch a segregated SFDR compliant Article 8 or Article 9 sub-fund, allowing them to take advantage of the high demand for ESG focused funds in Europe. We are proud that the platform works closely with key industry partners like K2 Integrity to contribute to the creation of a global ecosystem where the benefits of ESG can be realized.”
To learn more about the K2 Integrity’s ESG certification solution, please visit: www.k2integrity.com/en/newsroom/news-releases/k2-integrity-launches-first-of-its-kind-esg-certification-program.
K2 Integrity is the leading risk and financial crimes advisory firm helping clients understand and manage their risk so they can lead with confidence. With some of the most knowledgeable practitioners in the industry, K2 brings together deep subject matter expertise with proprietary technology and digital offerings to help clients creatively solve today’s issues while also planning for the future. With offices in New York, Washington, D.C., London, Chicago, Geneva, Los Angeles and Abu Dhabi and more than 400 employees globally, K2 has deep knowledge and experience working in every region and numerous jurisdictions around the world. To learn more about how K2 Integrity is revolutionizing the management of risk, visit www.k2integrity.com, or follow us on Twitter or LinkedIn.
Founded in 1998 and headquartered in Switzerland, RepRisk is a pioneer in ESG data science that leverages the combination of AI and machine learning with human intelligence to systematically analyze public information and identify material ESG risks. RepRisk’s flagship product, the RepRisk ESG Risk Platform, is the world’s largest and most comprehensive due diligence database on ESG and business conduct risks, with expertise in 23 languages and coverage of 210,000+ public and private companies and 55,000+ infrastructure projects. For more than a decade, the world’s leading financial institutions and corporations have trusted RepRisk for due diligence and risk management across their operations, business relationships, and investments. Find out more on reprisk.com.
Novata is a public benefit corporation created to enable the private markets to achieve a more sustainable and inclusive form of capitalism. Novata helps GPs and private companies navigate the complex ESG landscape more easily by providing a unique technology platform that simplifies the process of selecting relevant metrics, clear and simple guidance for painless data collection, a cutting-edge secure contributory database to store data, and unique tools for analysis and seamless reporting to key stakeholders, including limited partners and regulators. Novata was formed as a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
The Maples Group is a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services. The Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to their specific needs. Its global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East to ensure that clients gain immediate access to expert advice and bespoke support, within convenient time zones. For more information, please visit: maples.com.
Media Inquiries:
Prosek Partners for K2 Integrity
Pro-k2integrity@prosek.com
BCW for RepRisk
ben.jones@bcw-global.com
Katie Stueber
Novata
Press@novata.com
Melissa Barrero
The Maples Group
melissa.barrero@maples.com
