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COP26 and Net Zero: Open Source Breakthrough for Climate Aligned Finance and Investing - Cooperation between Amazon, GLEIF and OS-Climate

  • Tuesday, November 9, 2021, 10:50 pm
  • ACROFAN=Newswire
At COP26 they demonstrate the power of community-based open collaboration on open data and open source analytic tools to accelerate the transition to Net Zero. Climate risk management and climate-smart finance and investment depend on the development of open data and open source analytics.

A collaboration between the Global Legal Entity Identifier Foundation (GLEIF), OS-Climate and Amazon has resulted in GLEIF’s real-time open Legal Entity Identifier (LEI) datasets being made publicly available for the first time in the cloud, via the Amazon Sustainability Data Initiative (ASDI) data catalog.

This collaboration, announced in the context of COP26, was driven by OS-Climate to enable easier integration of LEI data with its own datasets to support the development of open data and open source analytics for climate risk management and climate smart finance and investment.

LEI data combines unique identifiers of companies with verified business reference data, enabling clear and unambiguous identification of legal entities involved in financial transactions.

“The science is clear: our world must make rapid progress toward a net-zero carbon future and making critical climate data accessible to everyone will be important to our progress,” said Ana Pinheiro Privette, Lead for ASDI. “Sharing Legal Entity Identifier data alongside other important data assets like carbon emissions and climate projections will help users all over the world streamline processes to support environmentally-friendly investments, make sustainable financial decisions and lead to faster innovation.”

GLEIF CEO, Stephan Wolf, comments: “GLEIF fully supports the wider use of the LEI to deliver transparency and accountability in global sustainability use cases. In driving the recruitment of LEI datasets into ASDI, this collaboration not only extends and accelerates the use of LEIs in climate-aligned finance by delivering near term efficiencies to the transformational work being undertaken by OS-Climate."

OS-Climate Project Lead, Michael Tiemann, adds: “The world of corporate identities and relationships is dynamic and complex. One of the key goals of the OS-Climate project is to create a “one-stop shop” for data and analytics tools to enable breakthrough innovations in the area of climate-aligned finance. The LEI provides OS-Climate with an elegant and powerful architectural solution to this very challenging problem, and the programmatic availability of the dataset on ASDI simplifies our own data management and platform services model greatly.”