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    ALV   DE0008404005

ALLIANZ SE

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Real-time Estimate Tradegate  -  03:18 2022-08-10 am EDT
178.53 EUR   -0.02%
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Sustainability data firm ESG Book raises $35 million in latest round

06/22/2022 | 07:07pm EDT

LONDON (Reuters) - Sustainability data firm ESG Book has raised $35 million in its latest funding round, its chief executive told Reuters, amid growing demand to better assess corporate performance on environmental, social and governance (ESG) issues.

ESG Book launched in December with the aim of making such data available free as a public resource, and has already received backing from groups including HSBC and the World Bank's International Finance Corporation.

The Series B round, announced on Wednesday, was led by venture firm Energy Impact Partners (EIP) alongside French sustainability investor Meridiam and Allianz X, part of German insurer and asset manager Allianz.

ESG Book planned to use the money to hire more staff, bolster its technology offering and expand into the growing market for such data in the United States, Chief Executive Daniel Klier said.

"At the moment, I see the biggest opportunity in the U.S.," Klier said. "It's now more active than any other market, so building out capacity in the U.S. is critical for us."

The firm would also look to grow its strategic partnerships with some of the world's biggest companies, including Google, Amazon, State Street and JPMorgan, as it aims to help clients use the data to better inform decision making.

Covering more than 25,000 companies globally, ESG Book's cloud-based platform allows companies to update their information in real-time, making it accessible, comparable and transparent.

"ESG Book marks the tenth investment by Energy Impact Partners in Europe, and this partnership is driven by a shared vision for radical transparency in sustainability data," EIP Managing Partner, Europe Nazo Moosa said in a statement.

As trillions of dollars flow into funds targeting companies doing well on issues such as climate change, market regulators last year set out a global framework to police ESG ratings.

(Reporting by Simon Jessop; editing by Philippa Fletcher)

By Simon Jessop


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -0.63% 177.38 Delayed Quote.-14.01%
ALPHABET INC. -0.57% 116.63 Delayed Quote.-19.48%
AMAZON.COM, INC. -1.13% 137.83 Delayed Quote.-17.33%
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Sales 2022 156 B 160 B 160 B
Net income 2022 6 895 M 7 052 M 7 052 M
Net Debt 2022 24 064 M 24 612 M 24 612 M
P/E ratio 2022 10,0x
Yield 2022 6,36%
Capitalization 71 973 M 73 615 M 73 615 M
EV / Sales 2022 0,62x
EV / Sales 2023 0,61x
Nbr of Employees 155 411
Free-Float 99,9%
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Number of Analysts 18
Last Close Price 178,56 €
Average target price 231,98 €
Spread / Average Target 29,9%
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Oliver Bäte Chief Executive Officer
Giulio Terzariol CFO, Head-Finance, Controlling & Risk
Michael Diekmann Chairman-Supervisory Board
Barbara Karuth-Zelle Chief Operating Officer
Renate Wagner Head-Human Resources, Legal & Compliance
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