DUBAI, UAE — A British sustainability fintech, World Wide Generation (WWG), and e& (formerly Etisalat) have joined forces at COP28 to launch the world’s largest global sustainability exchange platform. This platform aims to revolutionize how companies measure, manage, and report their social, economic, and environmental impacts in alignment with the Sustainable Development Goals (SDGs) and climate targets.
This project marks a crucial step in integrating sustainability data, solutions, and finances. Powered by WWG’s G17Eco platform, e& Enterprise’s ‘Sustainability as a Service’ is set to transform how organizations access, interpret, and act on sustainability data, offering insights, solutions, and support across various sectors.
The cloud-based G17Eco platform, fueled by innovative technologies such as data bots, distributed ledgers, and AI, integrates over 3,000 ESG metrics and 50 frameworks into a unified digital taxonomy. This integration significantly reduces the time, cost, and risk associated with disclosure, enabling real-time data sharing with stakeholders.
In an exclusive interview with TRENDS, Manjula Lee shared insights into the journey of building the platform, the strategic partnership with e& (Etisalat), and the vision for creating a global sustainability ecosystem.
Building G17Eco: A Seven-Year Journey
Lee began by recounting her seven-year journey in developing G17Eco, a platform born from her involvement in the United Nations SDG strategy panel. She emphasized the need for a comprehensive solution that could collect data from companies of all sizes, map their impacts to SDGs, and ensure the trustworthiness of the data through blockchain technology.
The platform’s capabilities extend to real-time sharing with stakeholders, from financial institutions to regulators, creating a transparent ecosystem that enables informed decision-making. Lee highlighted the importance of execution, noting that while many express the will to drive sustainability, the lacking execution capability remains a significant challenge.
The Etisalat Partnership: A Powerful Alliance
Lee detailed the fortuitous encounter with Etisalat, a telecommunications giant operating across 20 markets, including the UAE, Saudi Arabia, and Egypt. She was impressed by Etisalat’s commitment to sustainability and its ambition to extend beyond its traditional role as a telco company. The partnership involves integrating the G17Eco platform into Etisalat’s e& Enterprise, aiming to power ‘Sustainability as a Service’ across their extensive network.
With Etisalat’s presence in every country, boasting a platform that reaches every company and household, they are positioned as a powerful ally. Lee expressed confidence in Etisalat’s leadership and their dedication to embedding sustainability into the core of their operations.
All data gathered through this partnership could contribute to an open-source World Tracker, which would display the development trajectories of countries in relation to their SDGs and their progress toward Net-Zero commitments.
Through this partnership, e& Enterprise’s ‘Sustainability as a Service’, utilizing the G17Eco platform, introduces a range of services centered on sustainability. These include sustainability education, company monitoring at various levels, materiality assessment, portfolio monitoring for financial institutions, and assurance monitoring to directly support advisory and audit services from the platform.
Global Reach and Standardization
Discussing the scalability of the platform, Lee highlighted plans to extend its use to various stock exchanges, banks, and sovereign wealth funds globally. The goal is to create a consortium that facilitates standardized data sharing, ensuring comparability and ease of reporting. Lee emphasized the importance of building a global ecosystem that collaboratively addresses sustainability challenges.
She mentioned that the revenue model for World Wide Generation is based on Software as a Service (SaaS), aiming to be the most affordable platform globally. Lee stressed the need for affordability to drive widespread adoption and accelerate progress toward sustainability goals.
Ethical Tech
As technology plays a pivotal role in the sustainability platform, Lee addressed the ethical considerations surrounding data privacy, cybersecurity, and the governance of artificial intelligence (AI). She underscored the importance of a transparent and ethical approach, ensuring data sovereignty and privacy. She also discussed the need for AI to be harnessed for good, with a commitment to stewarding the technology responsibly.
The Path Forward
In conclusion, Lee emphasized the critical need for action and delivery in the face of global sustainability challenges. She acknowledged the skepticism surrounding announcements and press releases and emphasized her commitment to executing tangible results.
World Wide Generation’s partnership with Etisalat marks a significant step towards creating a sustainable future. With a platform that combines technological innovation, ethical considerations, and global collaboration, Manjula Lee and her team are poised to lead the way in addressing the pressing challenges of our time. The journey, as Lee aptly puts it, is about delivering, delivering, and delivering.