Stock Exchange giant Nasdaq has launched an ESG reporting platform to simplify the corporate sustainability reporting process for public companies.

The service is designed to help listed corporates navigate the growing array of corporate sustainability frameworks available in the market.

It aims to streamline the data gathering and response process and provide a more efficient way for companies to send ESG-related data to ratings agencies and other stakeholders.

Sustainability reporting frameworks supported by the platform will include the Global Reporting Initiative (GRI), ISS, MSCI, RobecoSAM, the Sustainability Accounting Standards Board (SASB), Sustainalytics, and the Task Force on Climate-related Financial Disclosures (TCFD), among others.

“Our clients face several challenges with the ESG reporting process, including the lack of control over data management and survey fatigue due to the variety of raters and reporting frameworks,” said Nelson Griggs, president of the Nasdaq Stock Exchange.

“We believe we are uniquely positioned to solve these challenges given the thousands of clients who rely on Nasdaq for counsel on a range of sustainability and governance-related issues,” Griggs added.

The platform further builds on Nasdaq’s ESG-related products for corporate clients.

These comprise its ESG Advisory Solution to help companies analyse, assess and implement ESG programs with the goal of attracting long-term capital, and the Nasdaq Sustainable Bond Network, designed to improve transparency for global green, social and sustainable bonds.

In 2019, Nasdaq reached a number of ESG milestones, including achieving carbon neutrality across all its business operations through the purchase of carbon offsets and renewable energy certificates.