Reorganization Co-Ordinates Sustainable Finance

At the beginning of this year Elizabeth King added the newly created role of president, sustainable finance at ICE to her position as chief regulatory officer to enable more collaboration across climate, data, markets and index teams. According to a story in MarketsMedia news, the new role is part of ICE’s initiative to bring together its sustainable finance products and services to better serve the needs of clients and enable them to meet their own sustainable finance goals according to King. “One of the things we are doing at ICE is to collaborate more effectively across our climate, data, markets and index teams to inform clients’ decision making,” she added. In December last year ICE bought risQ and Level 11 Analytics which enabled ICE to turn physical climate data into actionable insights, starting with municipal bonds and then mortgage-backed securities. In July this year ICE announced the acquisition of Urgentem, which provides Scope 1, 2 and 3 greenhouse gas emissions data, analytics and tools for more than 30,000 publicly listed and privately held securities, allowing ICE to widen its climate risk offering to corporate transition risk. In July this year ICE launched ESG Geo-Analyzer, which uses ICE’s geospatial data modeling to provide physical climate risk metrics on multiple hazards including wildfires, hurricanes, droughts and floods, as well as social impact data on community demographics and affluence on a property or group of properties in the US and their related securities such as U.S. municipal bond and mortgage-backed securities. In her new role, King is also working to expand the NYSE Board Advisory Council with co-chairs Sharon Bowen and Duriya Farooqui. The council is composed of 20 chief executives at listed companies and was launched in 2019 to bring more diversity to boards.