- Societe Generale, via Societe Generale Ventures, and Altalurra Ventures enter the capital of impak ratings, a series A financing of 4.5 million euros.
- Societe Generale has also chosen impak ratings to analyze the environmental and social impacts of its major corporate clients in order to better support them in their environmental and energy transition.
- This transaction positions impak as one of the leading analysis and impact rating agencies in Europe and demonstrates the accelerated transformation of the financial sector towards responsible and positive impact finance.
PARIS, September 30, 2022 /PRNewswire/ — Societe Generale – one of the Europe leading financial services groups, which supports its customers in their ecological and energy transition by providing them with responsible and innovative financing solutions – and Altalurra Ventures – a fund investing in technology start-ups with a positive impact – invest in impak ratings with the company’s ambition to be Europe leading impact analysis and rating agency, with Series A funding of €4.5 million.
impak, a unique player on the market
Launched in 2019 and based in Montreal and Paris, impak ratings aims to be the leading European impact analysis and rating agency. The start-up has already signed with around twenty clients thanks to its innovative and unique methodology. The company provides financial institutions with high-quality impact analysis, based on the most consensus and rigorous industry standards enabling transparency, comparability and contextualization of data. By assessing how companies mitigate their negative impacts and how they create positive effects, against the 17 UN Sustainable Development Goals, impak ratings goes beyond the traditional analysis of ESG issues through a two-pronged approach. materiality consisting in studying the impact of the environment on the company and the impact of the company on its environment. This approach is now recognized as essential to enable the financial sector to be a catalyst for the transformation of our economies, which today explains the company’s collaboration with major players in the market, such as Société Générale.
In-depth collaborative work
Indeed, it is thanks to this differentiating positioning that the company was able to convince its new partners, whose participation will considerably accelerate the development of the start-up. Beyond its investment, the Societe Generale group, through its Investment Banking and Advisory division, in December 2021 has chosen impak ratings as its partner to provide impact analysis to all its corporate clients and integrate the ratings into the bank’s standard business processes.
“We are delighted with the strengthening of this strategic partnership with impak ratings. Having a good understanding of the environmental and social issues of our clients is essential to support them in pursuing their responsibility roadmap. By welcoming the start-up to Societe Generale Ventures, Societe Generale is helping to accelerate the environmental and social transformation of its clients’ businesses,” said Pierre PalmieriHead of Corporate Banking and Consulting, Societe Generale.
Altalurra is also making a similar choice by signing a co-development agreement with impak ratings meeting impact reporting best practices for institutional investors in Europe and around the world.
Building momentum for sustainable finance
The financial sector is currently undergoing profound change. Key players in financing the economy, banks are increasingly taking up environmental and societal challenges to become strong players in this transition. To support these changes, they need to incorporate high-quality data and impact analysis into their decision-making and business processes. The synergies that are emerging today between impak ratings and its partners are fully in line with this approach, which aims to set consistent objectives in the impact measurement process.
Link to full press release: https://www.impakfinance.com/press-release/
Photo – https://mma.prnewswire.com/media/1912025/impak_Ratings.jpg
SOURCE impak Ratings