news - The JIM Foundation now supports 150 financial institutions

NEWS

The JIM Foundation now supports 150 financial institutions

March 27, 2023

FMO is proud to announce that as of March 15, 2023, the Joint Impact Model (JIM) has granted access to the JIM to over 150 institutions worldwide.

Using readily available input data from investment portfolios, the Joint Impact Model enables users to estimate financial flows through the economy and its resulting economic (value added), social (employment) and environmental (greenhouse gas emissions) impact. These impacts can be used to measure and report on the contribution of individual institutions to the Paris Agreement and the UN Sustainable Development Goals.

The JIM is characterised by its harmonised and transparent methodology and assumptions, accessibility, collaborative nature, up-to-date macro-economic statistics, security features and user operated style.

The JIM is a powerful tool which allows users to estimate and report on the contribution of individual institutions to the decarbonization pathways, just transition, and EU sustainable finance regulation. As a collaborative effort between multiple organizations including FMO, the JIM supports decision-making and accountability, while also promoting sustainable development. In addition, a new version of the JIM will be released in Q3 2023, focused on improving the existing version through advanced statistics, enhanced granularity, updated interface and increased capacity. Furthermore, new features will be available such as user-friendly outputs including ready to report SFDR PAIs.

This is only the beginning for the JIM, which aims to continue partnering with commercial banks and helping them with carbon accounting and decarbonization strategies. In the long term, the institution is working to reach a “tipping point” whereby carbon accounting in the financial sector becomes the norm, instead of an exception.

"This milestone highlights an unmet need in the current market, as financial institutions seek practical solutions that facilitate not only compliance with regulatory requirements but also the ability to report on their progress towards their commitments in a comparable way. As we continue to enhance the JIM, we look forward to welcoming more members to our platform." Giulia Debernardini, Co-Founder and Managing Director of the Joint Impact Model.

To find out more about the JIM or gaining access to the tool, please visit the JIM website.