During this period of time, clarity was focused on the following works:
WP1: Development and improvement of metrics and methodology
- Improvement of the coverage of metrics dedicated to ESG. This work has started with a detailed research of all the metrics used in the market by any provider or company reporting system. From that research 472 metrics have been identified, considering quantitative and qualitative different dimensions for which there is any kind of information. Among all of them, the final set included in the platform goes to 261 after excluding those ones that overlap, are not relevant enough or have almost no data available.
- In that process, the team needed to deep dive into every single definition for each metric, in order to identify potential overlaps among metrics, or even gaps in the information coverage. This process is an ongoing process that needs to be executed every time that a new metric arises.
- For the ones that have been considered to build a comprehensive view of the ESG image of the companies, the team has done an analysis of all the potential sources with available data. That analysis has been useful to identify the quality of the data, the type of data (if reported by the companies, estimated by the company or either estimated by a third party due to the lack of reporting from the company), and the coverage in terms of numbers of companies with information available for each metric.
- Those analyses have helped to prioritize the metrics that were more relevant to create new estimation models. For those ones, Clarity has worked in proprietary methodologies that mean very relevant improvements in coverage of companies.
- Regarding the Society Score, a new dimension to include the impact of products and services, this period has been useful to progress in the conceptualization of the score using the data coming from Mexico, as well as including other sources of data for other complementary geographies like Spain.
WP2 Piloting of proprietary methodology and new scores
The current workstream on the new score has focused on the creation of the necessary algorithms to estimate the Society Score for a specific industry, and developing a tool that calculates and visualizes the needs of the population around the world, as well as the society score for several countries.
WP3 Scale-up & Commercialization
- Since the start of the project, Clarity has been progressing on the product development and release of iterative versions, working with an agile methodology. More than 9 product versions have been released since September 2018, aiming at improving the product-market fit and increasing the value to customers.
- Rebeca Minguela, CEO and founder of Clarity, has been leading personally the commercialization process being in contact with the main customers. Within this period, Clarity has been in contact with most of the top 50 asset managers in the world, leading to several trial agreements to evaluate the tool. However, due to the ongoing releases of new features of the tool, Clarity has decided to focus on the development of the tool for the first months of the project, and start formally the commercialization in Q3 2019, with a stable and fully operational version of the platform.
- Clarity team has been involved in different events as an organizer and as a participant with the main purpose of disseminate the idea and the product. Additionally, Clarity team has published articles about the business, and the sector.
Summarizing, thanks to the time and effort dedicated to this project:
WP1: Clarity AI has now a bigger coverage in terms of metrics and data points, integrating multiple sources of data and developing its own estimation models
WP2: Clarity aI has developed two frameworks to measure social impact, with a disruptive approach that considers the impact of products and services, as well as the impact of the activities and operations of the companies within the ESG framework.
WP3: Ensuring the escalation of the commercialization by the signature of the current customers in trials, and integrating Clarity scores in other platforms that contribute to expand Clarity branding among professional asset managers and retails users.
