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Datamaran launches product for ESG risk, compliance management
Datamaran launches product for ESG risk, compliance management

Yahoo

timean hour ago

  • Business
  • Yahoo

Datamaran launches product for ESG risk, compliance management

This story was originally published on ESG Dive. To receive daily news and insights, subscribe to our free daily ESG Dive newsletter. Datamaran, a corporate risk and governance software platform, launched a 'core product' Wednesday, designed for companies to identify, manage and disclose relevant ESG issues, risks and opportunities, according to a company press release. The product will use artificial intelligence to help companies conduct materiality assessments, support ongoing compliance work and monitor for key regulatory shifts and trends, as well as peer benchmarking, the June 18 release said. Datamaran said its core product will work to support corporate sustainability, legal and risk management teams with insights and help them manage 'regulatory alignment on topics such as climate change, resource use, consumers & end users and business conduct.' The ESG compliance tool comes at a time when federal ESG and climate regulations in the U.S. are facing the chopping block, but both state and international jurisdictions maintain climate-risk disclosure laws that either are or will soon come into effect. Datatmaran said the tools will enhance reporting workflows by using AI to reduce manual effort, and the product supports compliance with multiple disclosure frameworks. Datamaran CEO Marjella Lecourt-Alma said in the release that the new product will give companies 'the insights ready to move from compliance burden to strategic advantage' and 'the capabilities they need to confidently run repeatable, audit-ready assessments while remaining agile in the face of shifting requirements.' The new offering joins Datamaran's suite of products that also includes a tool to conduct double materiality assessments — DMA Evaluate — which was launched in April. This tool, which is included as a part of the core product as well, will allow clients to both assess how climate impacts their business, as well as its business impacts on a broader range of stakeholders, as required by the European Union's Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards. Clients who use the core product will also gain access to Datamaran's ESG experts and member-only events as part of the software company's community for sustainability professionals, Harbor+. The community will also gain access to exclusive research and insights from Datamaran, according to the release. Datamaran is among a growing number of companies using artificial intelligence to aid and augment corporate sustainability reporting capabilities. Reporting remains a popular use case for AI from a climate and ESG standpoint, as companies and CSOs look for the best ways to use AI for sustainability. Recommended Reading How CSOs should use AI for sustainability: KPMG's US ESG lead

Nidec CEO Stresses Compliance in Shift From Fixation on Growth
Nidec CEO Stresses Compliance in Shift From Fixation on Growth

Bloomberg

time9 hours ago

  • Business
  • Bloomberg

Nidec CEO Stresses Compliance in Shift From Fixation on Growth

Nidec Corp. founder Shigenobu Nagamori said the Japanese maker of precision motors is prioritizing compliance, stepping away from a half-century-long focus on profit and growth. The acquisitive company is now teaching employees about the importance of contributing to society, even if that means additional costs, Nagamori said at the annual shareholders' meeting Friday in Kyoto. Nidec earlier this week delayed its submission of its securities report over errors in country-of-origin declarations and unpaid import tariffs at a subsidiary in Italy.

Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards
Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards

Khaleej Times

time11 hours ago

  • Business
  • Khaleej Times

Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards

In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks: Evaluate and transform Qi's current financial crime compliance (FCC) framework. Train Qi's personnel across all levels - from frontline staff to executive leadership. Take operational responsibility for implementing globally benchmarked compliance practices. Transition the program into a sustainable, best-in-class model eventually managed by Qi. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. The New York-based K2 Integrity brings decades of experience advising the US government, international institutions, and Fortune 500 banks. Its team includes former senior US Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, global head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' This initiative will position Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion.

SME compliance in South Africa: What every small business should know?
SME compliance in South Africa: What every small business should know?

Zawya

time12 hours ago

  • Business
  • Zawya

SME compliance in South Africa: What every small business should know?

South African small and medium enterprises (SMEs) face a wide range of legal and tax compliance demands that, if neglected, can result in serious penalties. From tax registration to health and safety laws, business owners must understand the rules that govern them to stay in good standing with authorities. Motumi Tsoeute | image supplied Motumi Tsoeute, senior compliance specialist at Sage Africa and Middle East, outlines key areas SMEs must get right: Formally registering your company with the Companies and Intellectual Property Commission (CIPC) separates your personal and business finances and limits your legal liability. Once registered, SMEs must file annual returns and report any changes to company information such as ownership, directorship or registered address. All businesses must be registered with Sars for tax purposes. Registered companies are issued with an Income Tax number and must file annual returns and provisional tax. Accurate records, including a balance sheet and income statement, are required. If you generate taxable supplies exceeding R1m per year, VAT registration is mandatory. For supplies under this threshold but over R50,000 in the past 12 months, voluntary registration is possible. VAT submissions and payments are done according to a schedule set by Sars. Employers must also register for Pay-As-You-Earn (Paye) and submit monthly and bi-annual returns. Additional payroll-related taxes, including the Skills Development Levy (if annual payroll exceeds R500,000) and Unemployment Insurance Fund (UIF), must be considered. SARS eFiling is essential for managing submissions, and SMEs working with tax practitioners must ensure all information submitted is accurate. Labour legislation Employers are bound by the Basic Conditions of Employment Act (BCEA), which covers hours of work, overtime, leave and employee dismissal. SMEs must also comply with the National Minimum Wage and any bargaining council agreements that may apply. Consumer and data protection Laws like the Protection of Personal Information Act (POPIA), Consumer Protection Act and GDPR govern how SMEs interact with customers, advertise products, manage personal data and handle returns. Modernise with automation Accurate, real-time recordkeeping is critical for compliance. Cloud-based accounting and payroll tools help SMEs maintain financial records, track taxes, send invoices and issue payslips. These systems also update automatically with legal changes. Avoiding penalties The risks of non-compliance include legal action, fines, reputational damage and SARS scrutiny. SMEs are encouraged to: "Compliance isn't just about ticking boxes—it's the foundation of a sustainable business," says Tsoeute. "It helps SMEs build trust, protect their operations, and set themselves up for long-term success." EA), which covers hours of work, overtime, leave and employee dismissal. SMEs must also comply with the National Minimum Wage and any bargaining council agreements that may apply. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (

TOKIO's Kokubun Taichi to halt activity indefinitely due to 'compliance issues'
TOKIO's Kokubun Taichi to halt activity indefinitely due to 'compliance issues'

NHK

time13 hours ago

  • Entertainment
  • NHK

TOKIO's Kokubun Taichi to halt activity indefinitely due to 'compliance issues'

Kokubun Taichi, a member of the Japanese band TOKIO, is suspending his activities indefinitely due to breaches of compliance rules. This was announced by his management agency on Friday. Earlier in the day, Nippon Television Network, or NTV, said it was removing Kokubun from a popular weekly program, "The Tetsuwan Dash." It cited the 50-year-old's multiple past acts deemed problematic in terms of compliance. Kokubun said in a statement that, after spending long years in the entertainment world, he lacked a proper understanding of his position. He said he was naive and conceited, and acted poorly. He said he will halt all his professional activities indefinitely and reflect upon himself. NTV has not said when the compliance-related problems took place or what exactly happened for privacy reasons. But it says they are not the kind of issues that warrant the filing of criminal complaints. NTV says it first learned of the problems in late May. It says that, based on a probe by third-party lawyers, the company's board approved Kokubun's removal from the show at an extraordinary meeting on Friday. It says "The Tetsuwan Dash" will remain on the air. NTV President Fukuda Hiroyuki told reporters that the program has been airing for a long time and is loved by its viewers. He said this makes it all the more necessary to strictly enforce governance. "The Tetsuwan Dash" featured segments in which Kokubun and other members of TOKIO engaged in farming and other activities in Fukushima Prefecture and other rural locations. Fukuda said the broadcaster will offer an explanation to the local people who have supported the show, and will seek their continued cooperation. Kokubun debuted as a member of the all-male band TOKIO in 1994. Due to his friendly character, he has emceed variety shows and other programs, while also pursuing acting roles in TV dramas and movies. Prior to Friday's announcement, Kokubun had six regular programs on TV and radio. He also appears in several TV commercials.

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