Tamayouz Business Services joins EDM Council as its newest member

Tamayouz Business Services has been operating in the Saudi market for 10 years in the fields of: infrastructure, cybersecurity and digital marketing. Their role is to help you define your digital needs  and improve its tools.partners with their customers to maximize their ROI on digital endeavors and grow with their success. They build and maintain a culture of trust, accountability and excellence to produce outstanding customer experience and find, nurture and retain the local talent and empower them to contribute towards realization of Vision 2030.

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TAMR joins EDM Council as its newest member

TAMR enables customers to accelerate their time-to-value by delivering validated, trustworthy insights. Tamr’s data products are the first of their kind to unite AI with human intelligence to improve data quality and enrich data with first- and third-party data so businesses can revolutionize customer experiences, drive greater ROI, boost operational efficiency, and avoid risks. Using Tamr’s cloud-native and SaaS solutions, industry leaders uncover the insights they need to stay ahead of the competition in a rapidly-changing business environment.

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The Canadian Investment Regulatory Organization joins EDM Council as its newest member

The Canadian Investment Regulatory Organization is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces.

CIRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments.

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Data Influencers Introduced Digitalization of Sustainability Data (DSD) Lab Accelerator Pgm at COP27

New York, NY; November 21, 2022 – The Digitalization of Sustainability Data Lab (DSD Lab), a collaboration of international standard-setters and data management experts focused on sustainability, has launched its Accelerator Program at COP27, the 2022 United Nations Climate Change Conference. The DSD Lab founders include Capitals Coalition, EDM Council and XBRL International. The DSD Lab is aimed at facilitating the exchange of data needed for statutory reporting across industries worldwide. The goal is to make the resulting information more trusted, actionable and discoverable, in support of better sustainability decisions that lead to more positive outcomes for people, the planet and the global economy.

The objectives of the DSD Lab Accelerator Program are to:

–  Spearhead the development of a Smart Shared Dictionary to include all ESG (environmental, social and governance) topics to drive the consistency, comparability and quality of sustainability data inside  enterprises and across supply chains
–  Accelerate the alignment of XBRL (eXtensible Business Reporting Language) sustainability taxonomies through collaboration among relevant standard-setters and regulators
–  Develop and implement a verification and certification program to help ensure that software and services can seamlessly move data between systems
–  Introduce a global registry for identification of all entity reporting (statutory and non-statutory) to vastly improve data discoverability
–  Launch the development of an emerging economy digital sustainability reporting playbook to help accelerate regulatory digital transformation

While the call for climate-related data continues to grow, it lacks uniformity to be useful. “There is both a growing appetite and need for better sustainability data, but one of the biggest challenges we’re facing globally is the fragmented state of corporate data,” said David Wray, co-founder of the DSD Lab. “Many of the costs that firms are facing are due to the disparities in the measurement of sustainability criteria and the lack of a common framework to connect and compare the data across systems. The DSD Lab will address this over the next two years and help firms reduce costs of complying with mandatory disclosures.”

The co-founders of DSD Lab spoke on November 10 at COP27 on a series of panels titled “The path to global digital sustainability disclosure.” These panelists included:

– Liv Watson, Senior Advisor,  Capitals Coalition

– David Wray, President of DFCG International Group

– John Bottega, President of EDM Council

– John Turner, CEO of XBRL International


About the Digitalization of Sustainability Data (DSD) Lab

The DSD Lab Accelerator Program is an open collaboration among international consortia, technology standard-setters and other influencers committed to greater access and discovery of decision-useful sustainability information that also significantly lowers data management costs. The DSD Lab designs approaches to digital sustainability disclosures that promote trusted and actionable data that is machine-readable.
For more, visit www.dsdlab.org

About Capitals Coalition

Capitals Coalition is a global collaboration redefining value to transform decision making. It sits at the heart of an extensive global network which has united to advance the capitals approach to decision-making. The ambition of the Coalition is that by 2030 the majority of businesses, financial institutions and governments will include the value of natural capital, social capital and human capital in their decision-making and that this will deliver a fairer, just and more sustainable world. The Coalition has published two international protocols – the Natural Capital Protocol and the Social & Human Capital Protocols – that provide a standardized framework for businesses to identify, measure and value direct and indirect impacts and dependencies on stocks of natural, social and human capital.
For more, visit https://capitalscoalition.org/project/digitalizing-sustainability-data/

About EDM Council

The EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 350 member organizations globally from the Americas, EMEA, and Asia, and more than 25,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, visit https://edmcouncil.org and follow us on LinkedIn and Twitter.

About XBRL International

XBRL International is a global, not-for-profit consortium working through the XBRL Standard to improve business reporting for the public good. We are a member-supported organization, with dedicated volunteers from all over the world offering their time and expertise to develop specifications to support the collection, sharing and use of structured data for data reporting and analysis.
For more, visit https://www.xbrl.org/

Media Contact:
Greg Tarmin
+1 917.868.7791

EDM Council in CDO Magazine – ESG Is About the Whole Ecosystem

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Eric Bigelsen, Global Head of Industry Engagement and Senior Advisor for ESG, EDM Council, speaks with Robert Lutton, Vice President, Sandhill Consultants, about the role of ESG (Environmental, Social, and Governance) in making sustainability-focused decisions and the talent required for it.

According to Bigelsen, companies today have recognized that ESG is important for their business, their organization, and the industry. “Some companies are really adopting ESG or sustainable culture and it’s not entirely about what the regulators want. There are many other stakeholders that are part of the ecosystem as well — the investors, the asset owners, customers, and employees,” he says.

He mentions that companies that have developed sustainable cultures and want to do things that are good and positive for the environment tend to develop very good governance structures for their business.

Regarding the role of governments in enacting ESG standards, Bigelsen says that while there are organizations like the International Sustainability Standards Board and the new European Sustainable Standard Board, governments also have significant initiatives around ESG to make sure that their respective countries and companies are in line. Most countries across Europe (including the U.K.), as well as Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Singapore, Canada, and the United States, are driving toward more transparency.

Bigelsen also mentions that companies, too, are stepping away from simply greenwashing, and are doing their part to achieve the net-zero requirements by 2050.

Speaking on the talent side of ESG and the need for a sustainability-specific workforce, he says that while there are professionals in the field, there is an inadequate number of them to meet the current demand across organizations.

“There are going to be opportunities for folks on the technical side from a measurement standpoint, but then there are going to be a lot of people involved with data management, data governance. They could be involved with audit and assurance to make sure that when data is collected, that data is high quality and it’s gone through some degree of audit missions,” he adds.

He also adds that while COVID has made things virtual, it has also increased the awareness around sustainability and the environmental impact of our actions.

“This is raising the bar at a very interesting time when, in fact, many are focused on the climate-related issues associated with ESG on the environmental side. There’s definitely a lot more to be said about public health, sharing of information. Information is much more fluid and people can make better decisions. It has really affected us in many profound ways,” he concludes.

Snowflake Achieves First Cloud Data Management Capabilities (CDMC) Assessment

Snowflake (NYSE: SNOW), the Data Cloud company, today announced that it has successfully completed an assessment conducted by KPMG on the 14 Key Cloud Controls for protecting sensitive data, a component of the EDM Council’s Cloud Data Management Capabilities (CDMC) Framework that ensures a comprehensive set of industry standard guidelines for Financial Services organizations and other industries as they move their data into the Cloud. Snowflake’s Financial Services Data Cloud is the first cloud platform to be independently assessed against the recently published CDMC Key Controls.

The EDM Council is the leading global non-profit trade association for advocating data management and analytics. The Council’s CDMC Workgroup is the largest open industry collaborative work group operating since May 2020 focused on developing best practices and controls for Cloud Data Management. The CDMC Workgroup includes over 100 companies and 300 professionals comprising leading financial industry companies, major cloud service providers, key technology companies and leading advisory firms. This first CDMC release targets the highly-regulated financial markets and has been developed to support all industries requiring the management of sensitive data in the Cloud.

“Snowflake’s customers, some of whom are among the world’s largest financial services organizations, are each trying to come up with their own guidelines for how to move their data to the cloud,” said Matt Glickman, VP and Global Head of Financial Services at Snowflake. “As part of the EDM Council, Snowflake helped create the CDMC framework to provide the industry with a standard way to manage their data lifecycle in the cloud. We’re very excited to be the first cloud platform to adopt this new standard to help further accelerate the industry’s move to the cloud.”

“The CDMC Workgroup collaboratively developed these 14 Key Controls as the first deliverable of the broader CDMC framework to be published at the end of September to help companies globally across various industries incorporate essential data management practices into cloud and hybrid-cloud implementations,” said John Bottega, President of the EDM Council. “We are very appreciative of all of the time and hard work from all of the CDMC contributors to deliver this vital industry framework.

Leading financial services organizations, like London Stock Exchange Group (LSEG), will be able to use the CDMC Key Controls as an objective set of guidelines and controls to thoughtfully move their data to the Cloud, with automation confirming all the correct controls are in place. The controls aim to help solve the industry-wide burden of managing data security and compliance when moving to the cloud. All the artifacts produced as part of the Snowflake Financial Services Data Cloud assessment have been published for general industry-wide consumption.

The CDMC 14 Key Controls for protecting sensitive data in the Cloud was published by the Workgroup as a first deliverable on July 7, 2021 and is available as a free license to all industries via the EDM Council website.

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About Snowflake 

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 212 of the 2021 Fortune 500 as of July 31, 2021, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com