Fund data and technology provider FE fundinfo has expanded its environmental, social and governance (ESG) capabilities with the acquisition of the Center for Social and Sustainable Products AG (CSSP).
Founded in 2009, CSSP, which is based in Liechtenstein, is a consulting and research house which has developed a strong reputation for providing its clients with ESG data and reporting, allowing them to fully understand the ESG and climate-related risks and opportunities within their investments.
FE fundinfo has acquired all of CSSP’s share capital, including its yourSRI.com platform which provides ESG screening and labels on thousands of funds. As part of the deal, CSSP founders Oliver Oehri and Christoph Dreher will co-head the ESG product group at FE fundinfo.
The acquisition of CSSP and its ESG reporting capabilities, which use a wide set of data sources, will bring an important capability to FE fundinfo’s existing range of services, which help fund managers and distributors access data and fulfil their regulatory obligations.
FE fundinfo said it will continue to work with its clients to meet thechanges to ESG due diligence requirements and reporting standards when they become more formalised in 2021, including the forthcoming introduction of the sustainable finance disclosure regulations (SFDR) across Europe from March 2021.
Commenting on the acquisition, Philipp Portmann, head of Business Development & Strategy at FE fundinfo, said: “At a time when ESG investing and reporting is rapidly becoming the major consideration for the investment industry, our acquisition of CSSP will enable us to expand upon our driving principle of connecting and supporting the global fund industry, through both a deep understanding of the market and the provision of clear, accurate and transparent data and reporting. Oliver and Christoph are renowned within the ESG space and their vision of just how important ESG investing will become, alongside their ambition to support investors to make better informed decisions, clearly matches our own.”
Hamish Purdey, CEO at FE fundinfo, added that promoting and supporting ESG investing was “at the heart of our strategic aims as a company, and as we move forward and further develop our reporting and analytical capabilities, CSSP’s expertise and services will play an important role in complementing our own, helping to support our next phase of growth and further empower our clients’ success.”