Worldfavor enables direct data submission with new EDCI API
Today, Worldfavor is introducing its new solution for private equity firms to submit sustainability data directly to the ESG Data Convergence Initiative (EDCI) through an API. With streamlined integration, the Worldfavor platform offers a seamless solution helping firms simplify the annual data submission process and eliminate manual data collection.
The ESG Data Convergence Initiative (EDCI) is an open partnership of private equity stakeholders, created to advance the industry's historically fragmented approach to collecting and reporting ESG data. By converging on consistent definitions and metrics, the EDCI seeks to achieve a standardized set of meaningful, performance-based data from private companies. Since formally launched in 2021, more than 300 general partners and limited partners have joined in on the initiative, with over 2000 portfolio companies contributing to the data benchmark.
Worldfavor’s global sustainability platform has since 2016 offered investors an intuitive tool to easily track all types of ESG data, and help monitor the overall ESG performance of their portfolios. With the launch of Worldfavor’s EDCI API, private equity firms can now both collect the ESG data from portfolio companies and submit it to the EDCI from inside the platform.
The feature aims to ease the reporting process for participating firms – providing an EDCI questionnaire, a user flow in the platform, and an API to send the data directly. It will furthermore add to the benchmarking and progress towards ESG improvements for general partners and their portfolio companies, and contribute to creating better transparency and comparability for limited partners.
To learn more and sign-up to the EDCI, visit https://www.esgdc.org.
For questions or additional information, please contact:
PR & Communications Manager
+46 (0) 704-98 14 62
Worldfavor is a global platform for sustainable business decisions. The company was founded in 2016 based on the idea that every person and business can create a difference by making sustainable decisions. Worldfavor has experienced extraordinary growth since the launch and has seen year-on-year surges in user uptake. Ever since the start, Worldfavor has attracted leading organizations, and the company is proud to have clients in industries from food to finance, ranging from medium-sized enterprises to Fortune 500 companies. Prominent clients include Nudie Jeans (frontrunner in sustainable denim production), IK Partners (European private equity advisory group with Nordic roots, operating across Northern Europe), Systembolaget (the Swedish monopoly for alcohol), Oatly (Swedish food company that produces oat-based alternatives to dairy products), Oakley Capital (private equity investor) and Grant Thornton (one of the world's largest accounting and consulting firms).