June 16, 2024
News

Solifi introduces new tool for automotive finance ESG compliance

Solifi has introduced ESG Portfolio Strategist, a new software-as-a-service (SaaS) offering aimed at assisting automotive finance businesses in implementing and managing their environmental, social, and governance (ESG) strategies.

This tool seamlessly integrates with existing leasing workflows, enabling companies to adhere to ESG standards, implement strategies, and provide guidance on ESG portfolio analytics.

Solifi’s cloud-native solution provides automotive lenders with the necessary tools to calculate financed emissions, align funding limits with CO₂ reduction targets during the credit decision process, and access centralized analytics for decarbonization strategies.

ESG Portfolio Strategist is specifically designed to enhance and consolidate portfolio data, enabling informed decision-making.

It includes an ESG Fleet Optimizer module to assist asset funders in guiding small and medium-sized enterprises (SMEs) and fleet customers towards decarbonization.

The solution also offers asset-level Worldwide Harmonized Light Vehicle Test Procedure (WLTP) CO₂ data and customizable ESG classifications.

Its capabilities extend to calculating financed emissions at the asset level for all finance products, following industry-standard frameworks.

Additionally, it enables the monitoring and tracking of ESG progress within automotive portfolios and modeling of funding allocation scenarios that align with CO₂ reduction goals.

These scenarios can be put into operation by setting target funding allocations per vehicle type and establishing additional deal acceptance criteria.

Furthermore, ESG Portfolio Strategist can integrate with any third-party contract management system, linking ESG risk management key performance indicators (KPIs) to any originations system.

It offers decarbonization strategies to fleet customers and provides them with ESG and emissions analytics through a portal.

Solifi’s Chief Product Officer, Bill Noel, stated: “Regulators, investors, and consumers are recognizing the importance of ESG within the evolving sustainability landscape. Lenders need detailed ESG reporting to support the execution of their daily ESG strategy.

“We engaged with our customers and incorporated their valuable feedback during an early-adopter program. This allowed us to develop a product that can assist automotive funders of all sizes, seamlessly integrating with their current systems and workflow.”

This launch follows a report by Alphabet International, which highlighted a lack of awareness among European fleet managers regarding the impact of upcoming sustainability legislation on their operations.

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain a competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData





Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

ESG Portfolio Strategist’s capabilities are geared towards helping automotive lenders manage their ESG strategies effectively and make informed decisions.

In conclusion, Solifi’s launch of ESG Portfolio Strategist signifies a step towards greater ESG compliance and sustainability in the automotive finance industry, offering a comprehensive solution for implementing and managing ESG strategies.

Leave a Reply

Your email address will not be published. Required fields are marked *