Alte Leipziger first client to go live with SimCorp’s latest Taxonomy module

Written by Adam Cadle

19/05/2023

German life and pension company, Alte Leipziger, is the first client to go live with SimCorp’s latest Taxonomy module.

The module has been developed to assist financial market participants with their corporate reporting obligations for 2024, in accordance with the EU Taxonomy Regulation. Furthermore, it enables insurers, pension funds, and asset managers to comply with the new legislation by using SimCorp’s pre-defined standards on their investment management platform, using data directly from their Investment Book of Record (IBOR) and utilising the capabilities of SimCorp’s ESG Book of Record (EBOR).

The new regulation mandates that large financial market participants operating within the EU extend the scope of sustainability-related Key Performance Indicators (KPIs) in their annual report. These new disclosures allow investors and the public to assess the proportion of environmentally sustainable economic activities (Taxonomy-aligned activities) in their investments across all asset classes. To comply with the new regulation, financial market participants subject to the Non-financial Reporting Directive (NFRD) are required to report on more than 100 KPIs, which must be included in annual financial statements for the financial year 2023, typically disclosed in 2024.

"We are working towards making our investment portfolio climate-neutral by the end of 2050. In this context, the EU Taxonomy regulation provides more transparency, as more data will be available than before. However, this also significantly increases the effort required for our reporting. This new innovative solution enables us to meet the requirements while reducing manual work and operational risks," Martin Rohm, chief investment and finance officer of Alte Leipziger, said.

Related Articles