It’s nearing the end of 2022 and I have been working for Enento Group as the CEO for almost a year now. It’s certainly been an intense, interesting and very rewarding year for me – both on a professional and personal level. I had so many options to choose from when trying to pick a topic for this first blog post, but ultimately I decided to write a bit about sustainability, which is a topic close to my heart as well as Enentos.
It’s no secret that we live in turbulent and uncertain times and that business related risks are increasing and are more complex than ever. Business ethical and social risks need to be highlighted on the business agenda and handled as part of our everyday business practices and due diligence processes. They must be part of what we all do, every day, when running a business. At the same time, creating stability and trust on the market is more important than ever in order to create long-term economic security.
Sustainability has always been part of the core of Enento Group since the very start, beginning 117 years ago all the way back in the year 1905 – and it has always been a crucial topic for our customers agendas as well. However, sustainability requirements are increasing and we at Enento Group want to be part of the solution to these new complicated challenges. We want to help our customers act in a sustainable way. This way we can contribute to society together even more!
Our customers are happy to share their feelings
I want to take the opportunity to give some examples. This is how Enento today contributes to sustainability in our Nordic markets.
• Compliance and company ethics. Enento is offering products on our local markets to counter fraud, staying ahead of regulatory compliance and PSD2/Account data. These are services that are essential for both economic and privacy protection. Also, during this horrible year of war in Ukraine, our solutions for Knowing Your Customer have helped a lot of organizations to avoid business with Russian based companies.
• Providing sustainability (ESG) data, that enables companies and banks to comply with legal requirements and follow up on their own sustainability commitments. The need for high quality, comparable and organized sustainability data is immense right now. Enento has a large potential in helping companies to build more sustainable and data-based decision processes. Our long-term customer Lähi-Tapiola in Finland is a great example. They will use the ESG data collected from their corporate lending by Asiakastieto (part of Enento Group) in all their financing decisions in the future.
• Climate risk assessment of real-estate and housing. Another way for us to offer data and information to our customers so that they can make more sustainable decisions. During spring we were the first company in Sweden to launch risk data on all water courses. For example, our customer, mortgage institution Stabelo wanted to analyze and measure climate risks related to houses. “UC’s (Part of Enento) models and analysis have already provided new insights”, they now say. Please, learn more about Stabelo.
• And last, but not least, our credit business which is all about helping our customers to act responsibly – both financially and socially sustainable in their own business processes. The entire area of responsible and sustainable lending is very much a boiling hot topic now. The new EU Taxonomy and directive are creating a new arena for sustainable finance. This will have a a clear impact on the credit business as well.
I hope my first blog was interesting to read and that it gave some insight into how we feel about sustainability here. I will keep writing blogs about topics close to my heart in the future as well, please look forward to those.