Global investor services provider IQ-EQ has launched IQ-EQ Compass, a service offering that simplifies ESG compliance.

The tool is built on multiple ESG reporting frameworks to allow asset managers and investors to compare their performance against benchmarks, such as the UN Principles of Responsible Investing and the World Economic Forum’s ESG metrics, according to a statement from the firm.

Changes in the international regulatory landscape, paired with the Covid-19 pandemic, have accelerated investors’ interest in sustainable investments, while also increasing pressure on organisations to provide more transparency around ESG reporting.

The firm believes that the tool should address ESG-related risks, including greenwashing and reputational issues.

“Multiple and ever-changing regulatory frameworks present real challenges to establishing and maintaining transparency and compliance,” Serge Krancenblum, executive chairman at IQ-EQ, said in the statement.

“IQ-EQ Compass helps our clients navigate that challenging landscape using a full suite of services, including our ESG Health Check, ESG Reputational Assessment, plus policy drafting and benchmarking,” he added.