The Nasdaq ESG Data Portal was launched in Copenhagen on Monday and is designed to show how listed companies in the Nordic region rank against each other on key sustainability metrics.
The company said that around 160 Nordic companies, with a combined market cap of €213bn currently voluntarily submit ESG information to be ranked on the portal, although it is not a formal requirement for companies that list on the Nasdaq Nordic exchange.
Suzanne Dahl, vice president of Nasdaq’s Global Information Services division said that a lack of central standardised information remains an issue for many investors.
“A global megatrend is creating investor demand for transparent, comparable and actionable ESG data,” she said in a media statement.
“As a central hub in the market, we want to bridge that gap through our innovative new product, creating a standardised ESG reporting.”
The innovation follows Nasdaq’s launch of its ESG Reporting Guide back in 2017, which was designed to encourage companies in Stockholm, Helsinki, Copenhagen, Iceland, Tallinn, Riga and Vilnius to volunteer ESG information.
“The Nasdaq Nordic exchanges are committed to the promotion of sustainable markets, and in our view the best way to promote ESG is to integrate it into the products and services that we offer,” said Lauri Rosendahl, president of Nasdaq Nordic and senior vice president of Global Trading & Market Services.
“As a market operator, Nasdaq can support the future direction of ESG in the market, and the Nasdaq ESG Data Portal is an important step to facilitate a movement towards more sustainable investments,” he added.
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