cleversoft Announces Full Support for EET Version 1.1.2

cleversoft Services

As part of our Compliance Guarantee, cleversoft is closely monitoring all updates to regulations and relevant ESG data sources, which allows us to quickly review and implement all official regulatory changes within all services at cleversoft.

In this regard we are pleased to confirm that we are already supporting EET version 1.1.2, and all related changes are already part of our ESG and EET data imports and exports, including our EET Collection and EET Generation services.

Our standardized services include the full range of the relevant SFDR disclosure requirements, which allows you to benefit from our SFDR service with the different modules for your pre-contractual, periodic, web disclosure and PASI statement. We also offer modules covering the generation and collection of EET files.

EET version – 1.1.2 is already supported as part of cleversofts’ standard service

The Financial Data Exchange Templates (FinDatEx) Group have created a new version of the European ESG Template (EET) – version 1.1.2., which is an official standard used by asset managers to report ESG KPIs, and from which ESG data can be used for needed calculations.

With the new 1.1.2 version of the EET, renaming in some fields were introduced, along with some entirely new fields which were added to the standard template. Below you may find a full list of the mentioned changes.

I. New fields within the 1.1.2 version of EET

• 11011_Manufacturer_PRI_Notation_Percentage

  • Notation of the Manufacturer by the PRI on the “Policy, Governance and Strategy policy” in percentage, Replacing 11010 alpha numeric PRI notation (Methodology change)

• 30000_PAI_Snapshot_Frequency -> Annual (Calendar year) or Quarterly (Calendar quarter) or Monthly

  • This field was deprecated in version 1.1. With version 1.1.2. this field is reintroduced, where AM must provide the frequence in which they report data for PAIs, possible values are Annually, Quarterly and Monthly.

  • Institutional investors are due to provide in their SFDR Entity level reportings based on quarterly calculations with quarterly snapshots. Quarterly Reference dates are 31st March, 30th June, 31st October and 31st Dec, calculations being made on the closest previous day.

• 70010_Financial_Instrument_Total_Fund_NAV_Or_Notional

  • NAV (Net Asset Value) for a fund and Notional for structured products at PAI_Reference_Date in EUR

• 100010_List_Of_Invested_Countries (ISO 3166-1 alpha 2 of countries).

  • Full List of countries in which the fund/portfolio has investments, derived from the Sovereign Bonds in the fund/portfolio. This field is required for the correct calculation of PAI 16 (countries subject to social violations) in the SFDR PASI disclosure and provides a solution to the previous deficiency for the correct calculation.

II. Name changes to existing fields within the 1.1.2 version of EET.

The following fields have only names changed, without any changes to the codification (column D in the EET)

III. EET and cleversoft Services

• EET generation & EET Collection – all necessary updates are completed.

• SFDR – all necessary updates are completed.

• ESG4Insurance – IDD/EET data delivery Upgrade for full EET 1.1.2 delivery will be ready for client testing on UAT in the first week of April. A separate newsletter with the exact dates will follow.

IDD data deliveries for insurance clients have currently pre-defined data delivery packages. These have been adjusted on our pre-productive system and will be available for client testing in the first week of April when a separate notification will follow. For clients with cleversoft compliance commitment, the update to the newest version will be performed without any additional costs upon client’s request and will be automatically upgraded to the full EET. Customers without cleversoft compliance commitment please contact your Account Manager in case you are interested in the full EET data delivery package. The Full EET data delivery package includes all available EET fields of the latest version. Given that numerous insurance clients rely on the automatic import of IDD data deliveries, we have allocated a testing period of up to four weeks before implementing the latest version into the production system.