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Fintech November 17, 2020

Datia will help the financial industry tackle the EU’s new sustainability requirements – backed by Swedish savings giant

Swedish fintech startup Datia launches a new solution that will help professional investors and financial companies to handle the EU’s new directive on sustainability reporting – receives support from the savings giant Söderberg & Partners, which joins as a partner.

Manne Larsson and Juan Manuel Serruya, founders of Datia

Earlier this year, Datia launched the Invest Sustainably app (Investera Hållbart), which helps individuals analyze their savings and inspire more sustainable alternatives. The company is now launching its first product aimed at companies and organizations – Taxonomy Report – a SaaS solution that helps professional investors and financial companies manage the EU’s new directive on sustainability reporting.

As early as 2021, companies need to start reporting on how environmentally sustainable their operations are according to the EU’s new taxonomy regulation. In principle, all SMEs (according to the EU definition) are affected, but international giants will have to adapt to the new reporting requirements as well.

The taxonomy enables investors to redirect their investments towards more sustainable technology and sustainable companies, something that is crucial if the EU is to become climate neutral by 2050 and achieve the Paris Agreement’s goals for 2030.

– From next year, the requirements for investors and companies to report sustainability information will increase. We have built a platform where both companies and investors can collect data from several different sources to be sure that they meet the new requirements, says Manne Larsson, co-founder and chief operating officer at Datia.

Common guidelines for sustainability reporting entail both opportunities and challenges

– There are a number of different stamps and labels for sustainability, but there has been no common classification system before. With the help of taxonomy, we will now be able to compare how environmentally sustainable different financial products and individual companies are, but it is based on all companies having the time, resources and skills to start working based on the new directives, says Juan Manuel Serruya, co-founder and CEO at Datia.

In connection with the new product launch, the company is taking in an investment from the financial advisory company Söderberg & Partners, which will also become customers of Datia and start working on the new Taxonomy Report solution itself.

– We are very impressed by the team behind Datia and see exciting synergies between their product and our business. Söderberg & Partners has been working for a long time to help our customers balance sustainability aspects in their finances and pension savings, and we know how much of a difference this can make to the possibilities of achieving both the UN’s global goals and the EU’s goals for sustainable growth. We are therefore very pleased to initiate this collaboration with Datia and help make it easier for companies to report their sustainability information, says Gustaf Rentzhog, CEO of Söderberg & Partners.

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