It was Chronos Sustainability's benchmarking and reporting initiatives in the period under review that led the IMPACT award judges to choose it as the winner of this category for the second year in a row, with one judge calling the work undertaken "inspirational".
Standardised benchmarking and reporting tools are of particular importance when assessing and reporting material impact in investment decisions.
Some of the impact reporting and benchmarking initiatives that Chronos undertook in period under review for this award include:
- The Climate Action 100+ Net Zero Company Benchmark: Chronos oversaw and managed the data that underpinned the first and second CA100+ NetZero Company Benchmarks. The benchmark of the world's largest investor engagement initiative on climate change assesses the management practices and carbon performance of 166 of the world's largest corporate greenhouse gas (GHG) emitters.
- The Climate Action 100+ Investor Guide for Engaging in Asia: Chronos worked with the Asia Investor Group on Climate Change (AIGCC) and other investor networks to deliver 'The Climate Action 100+ Investor Guide for Engaging in Asia'. Released in July 2022, the report explains how companies can align their disclosures with the expectations of the CA 100+ Net Zero Company Benchmark and explains how investors can use the benchmark to deliver real change in company performance.
- Guiding sustainable finance policy: In partnership with the Principles for Responsible Investment, the World Bank and securities and pensions regulators in Colombia, Peru and Thailand, Chronos worked to design and implement sustainable finance policy and regulation, especially as it relates to corporate ESG disclosures, and asset owner and asset manager duties.
- Reporting requirements for asset owners: In partnership with asset owners USS, Brunel Pension Partnership, BTPS, the Church of England Pensions Board and RPMI Railpen, Chronos developed an online reporting tool to help asset owners meet their PRI, stewardship and Task Force on Climate-Related Financial Disclosures (TCFD) reporting requirements. According to Chronos, the tool can be used by asset owners as an auditing and assessment framework.
"When Nicky [Amos] and I established Chronos almost exactly five years ago, our aim was to build a world-class consulting business which could deliver material impact at scale.
"Five years on, we have clear evidence that well-designed, purposeful programmes and initiatives allow the finance sector to make a meaningful contribution to the low-carbon transition and to the delivery of the Sustainable Development Goals," commented Rory Sullivan, CEO of Chronos Sustainability.
"This award is testament to the leadership shown by our clients, our partners, and our friends, and our collective ambition to drive sustainability in and through the financial system."
Nicky Amos, managing director of Chronos Sustainability, added: "To have received this award for the second-year running is testament to our incredibly talented team of sustainability professionals and subject matter experts around the world, who are dedicated to enabling our clients to deliver transformative, systemic change at scale.
"We would like to thank the judges of this award and Environmental Finance, as well as our valued clients, who share our belief that meaningful impact is conditional on the collaborative efforts of investment, corporate and civil society actors in creating a more sustainable, productive and equitable world for generations to come."