Asiakastieto, part of Enento Group, has published Finland’s first ESG Rating service, which assesses the sustainability of companies’ business operations from the perspectives of environmental responsibility, social responsibility, and good governance. The ESG Rating includes information on over 243,000 active Finnish companies. It allows for easy verification of how well companies fulfill their ESG responsibilities and enables comparisons between companies.
“Sustainability and promoting sustainable development are becoming core parts of business operations for more and more companies. We are extremely proud of our new ESG Rating service, which makes all Finnish companies and their sustainability measures comparable. Sustainability is becoming an increasingly essential factor in business operations, as both investors and customers demand transparency and good performance in ESG responsibilities,” says Mikko Karemo, Deputy CEO of Enento.
The ESG Rating takes into account up to 258 data points in a company’s ESG rating, providing a solid foundation for the accuracy and reliability of ESG ratings. Most of the data used as the basis for the classification comes from reliable public sources, but about 40% of the data affecting the ESG Rating is obtained from the companies themselves. Entrepreneurs can report their company’s information for free through Asiakastieto’s easy-to-use and secure ESG service.
“At Enento, we know from experience that Finnish companies do a lot for sustainable development and responsibility. Unfortunately, not all of this information is publicly available. That’s why we wanted to create a transparent ESG Rating service that also includes voluntarily reported information from companies. The ESG classification helps to understand how well a company addresses key sustainability challenges, such as reducing emissions, promoting diversity, and ensuring transparent governance practices. For companies, this enables, among other things, effective comparison of potential partners. Responsibility risk is always a reputation risk – a wise company is always aware of its partners’ backgrounds,” notes Riku Salminen, Nordic Development Director responsible for Enento’s ESG products.
Less than 9% of Finnish companies currently receive an excellent ESG rating
The ESG Rating is based on a statistical classification model and a scoring system developed by Enento. Each company is separately scored for environmental responsibility, social responsibility, and good governance. The maximum score in each category is 100 points, making the highest possible ESG score 300 points. Based on the total points, the company receives an ESG rating. The ESG rating is a five-level rating, with level one being the worst and level five the best. Only 8.5% of companies receive an excellent ESG rating of 5.
“Transparency and impactful ESG actions build trust among investors and stakeholders. Additionally, sustainable practices in all areas of responsibility often lead to cost savings and improved efficiency. Considering responsibility is not just an additional reputation factor but the core of business operations. With the information provided by the ESG Rating service, companies can easily guide decision-making in many areas of business,” says Salminen.
The ESG Rating is currently available to Asiakastieto’s contract customers.
For additional information:
Riku Salminen
Nordic Development Director, ESG
Enento Group
riku.salminen@asiakastieto.fi
040 544 2758