European impact investing bank ClearlySo has launched an online impact assessment portal for private equity and venture capital firms.
The ClearlySo ATLAS program helps firms assess the social and environmental impact of their investments, and provides suggestions for improvement action. Its methodology takes into account guidance from the Private Equity Reporting Group, Principles for Responsible Investment, European Union Directives, and Red Line Voting. Results are mapped to the UN Sustainable Development Goals.
“We request data from the private equity firm, and then we do the rest. Clients pay an annual membership, and access the portal online,” John Lloyd, ClearlySo’s chief marketing manager told pfm.
The program assess human, economic and environmental impacts and the target company is given an overall score. This can also be broken down into area-specific scores. Firms can download the impact report and share with interested parties.
There is also a knowledge bank available on the website, which keeps clients up to date with the latest developments in the impact investing space.
Octupus Ventures is the first customer to go live, while more than 20 UK-based private equity firms are said to have expressed interest in the product.
“The product will be available to global firms, but we’re concentrating on the UK and European market at the moment,” Lloyd said.