How is Data Security Evolving in Finance and How are Companies Tackling Carbon Footprints?

26 September, 2023 - 1:31 pm (72 days ago)
1 min read

With the introduction of the Consumer Data Right (CDR) into the Non-Bank Lending sector by the Treasury, a paradigm shift is set in motion. Businesses under this category are poised to undergo a transformation, being mandated to classify themselves as Data Holders, thus placing them under new regulatory scrutiny. This shift necessitates not just an understanding of the new rules but also adaptation to them.

Basiq, an Open Banking stalwart in Australia, steps into this realm, offering insights and assistance. Their expertise is poised to ease the potentially challenging transition for businesses. To further extend support, they’ve initiated a webinar – a platform for businesses to delve deeper into this regulatory metamorphosis.

But why is this shift important? For Non-Bank Lenders, the CDR expansion symbolizes more than just a change in title. It heralds a profound transformation in how they approach data handling. Thus, understanding and proper guidance become paramount. Basiq, with its offering, emerges as a beacon, guiding businesses through the intricacies of this change.

A Golden Standard in Emissions Offset by Sumitomo (SHI) Demag UK

Stepping into the environmental arena, Sumitomo (SHI) Demag UK sets a commendable precedent. By offsetting a whopping 153.81 tonnes of CO2e emissions through the Woodland Fund portfolio’s projects, they’ve earned the eminent emissions-reversal gold-certification badge. This feat is noteworthy, especially when contextualized against companies of similar stature and headcount.

Their collaboration with Carbon Neutral Britain, a body maintaining stringent ISO 14064 and GHG Emissions Protocol Accounting Standards, showcases a commitment to verifiable and certified projects. What’s more, the projects they fund align seamlessly with their core business principles, underscoring initiatives in energy reduction, environmental education, and more.

But the journey doesn’t end here for Sumitomo (SHI) Demag UK. With roots in manufacturing energy-efficient moulding machines, their blueprint for the future is painted with shades of enhanced sustainability.

The world is undergoing rapid changes, both in the financial and environmental sectors. While businesses like Non-Bank Lenders navigate the complex waters of data rights, companies like Sumitomo are carving a path toward a greener tomorrow. The integration of new regulations in data management and commendable efforts in carbon offsetting are indicators of the broader shifts in corporate responsibility and environmental awareness. For businesses keen on staying relevant and responsible, understanding these shifts and adapting to them will be crucial. As we progress, watching companies maneuver these changes and set benchmarks will be both enlightening and inspirational.

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