BNY Mellon joins the Linux Foundation to drive open source solutions for climate data and analysis
SAN FRANCISCO, November 11, 2021 / PRNewswire / – Today, OS-Climate announced that BNY Mellon has joined its rapidly growing community of Fortune 500 companies and financial services companies who are jointly building a public platform of open data and open source decision-making tools to accelerate the global transition to Net Zero.
âBNY Mellon is committed to using its reach, market influence and resources to address pressing global ESG issues, and part of that is about empowering and enabling clients and investors to integrate climate-related factors. and ESG in their decision-making processes. that, we aim to equip them with clear and transparent data and tools that both guide future ESG investments and continually improve and optimize the effectiveness of ESG measures. Engaging in open collaboration through OS-Climate offers a unique and powerful way to achieve our goals and create impact at scale, âsaid Todd Gibbons, CEO of BNY Mellon.
OS-Climate is a member-driven, non-profit organization hosted by the Linux Foundation, the world’s largest host of open source initiatives. The number of members has more than tripled since September 2020. BNY Mellon joins Airbus and EY as new members.
At November 8, To COP26, OS-Climate launched its Data Commons prototype and open source tools to align financial and investment portfolios with climate goals and for scenario analysis of vulnerability to physical risks. The half-day event introduced BNY Mellon International President Hani Kablawi, Airbus Executive Vice President Catherine jestin, and other leaders in finance, business, science and politics.
âThe cost and complexity of data and analytics for climate-aligned finance requires systematic collaboration and resource sharing among hundreds of users and contributors,â said Truman Semans, executive director of OS-Climat. âWe are delighted that BNY Mellon is helping lead this collaboration through OS-Climate, enabling investors, banks, regulators, businesses and civil society to deliver climate solutions with greater speed and innovation than n ‘ any organization could not do it alone. “
Using the community-based open-source approach that has enabled disruptive innovation in life sciences and technology, OS-Climate will leverage the governance, licensing and collaboration structures of the Linux Foundation to coordinate effectively climate data and tool development across a wide range of stakeholders.
Through BNY Mellon, with $ 45.3 trillion in assets under custody and / or administration, and $ 2.3 trillion in Assets Under Management, OS-Climate data and tools will reach a vast network of financial decision makers globally once they are refined and tested to meet the rigorous demands of BNY Mellon.
About the Linux Foundation
Founded in 2000, the Linux Foundation is supported by more than 1,000 members and is the world leader in collaboration on open source software, open standards, open data and open hardware. Linux Foundation projects are critical to global infrastructure, including Linux, Kubernetes, Node.js, etc. The Linux Foundation’s methodology focuses on leveraging best practices and meeting the needs of contributors, users, and solution providers to create enduring models for open collaboration. For more information, please visit us at linuxfoundation.org.
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BNY Mellon media contact:
PHONE: + 1-949-683-1503
OS-Climat media contact:
PHONE: + 1-919-599-3660
SOURCE The Linux Foundation