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Arabesque S-Ray, a data tech firm based in Germany, says it can help companies and investors measure ESG performance.

This article was originally published on Karma Impact's website. Click here to view the original article.

By James Peter Rubin

Investors scrutinizing target companies’ commitments to environmental, social and governance principles sometimes find they need a hand cutting through the feel-good fluff to measure what’s actually getting done. 

Germany’s Arabesque S-Ray says it can help. The unit of London-based Arabesque Asset Management measures ESG performance in 200 categories and flags companies involved in controversial businesses, including arms, gambling and tobacco. 

The data tech firm is seeking to expand and this month landed $20 million in funding from backers including the investing arm of Allianz Group, Germany’s largest insurer. Other participants include the German state of Hessen, German asset management groups Commerz Real AG and DWS. 

“Sustainability assessments are becoming increasingly important for making informed investment decisions, including our own,” Nazim Cetin, CEO of Allianz’s investing arm, said in a statement.

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