Leading Point have joined the SME Climate Commitment

 

 

What is The SME Climate Hub?

The SME Climate Hub is a global collection of SMEs (small-medium enterprises) that have commited to halve emissions by 2030 and become net-zero by 2050. Included in this commitment is to report on progress yearly. 

The SME Climate Hub is a network that supports SMEs on this vital net-zero journey.

 

Why we joined:

Leading Point is pleased to announce that we have joined the UN-backed SME Climate Commitment and formally committed to being net-zero in carbon emissions by 2030 (in advance of the minimum target of 2050).

We have joined the community of UK businesses tackling climate change through the SME Climate Hub. With their support, we will understand, track, and make strategic, impactful emission reductions to achieve our target of being a net-zero business by 2030.

Leading Point is committed to having a responsible, sustainable, and transparent operating model. We are excited to collaborate with other businesses on this scheme, and implement a business climate strategy using the tools created by Normative, CDP, Business for Social Responsibility (BSR™), and the University of Cambridge Institute for Sustainability Leadership (CISL).

We are proud to be taking the lead on climate action with the SME Climate Hub community and will be fully transparent with our progress.

 

Words from our Founding Partner and Chief Sustainability Officer, Thushan Kumaraswamy:

“Committing to a net-zero target is the right thing to do for the planet. It is also a bold statement for a growing startup. I want Leading Point to be at the forefront for fintechs who are making a climate change difference. As we grow, our impact on the environment naturally increases. I am excited to find the best ways to mitigate those impacts and share those findings with our peers.”

 

Words from our ESG Associate, Maria King:

Climate change presents both potential risks and potential opportunities for businesses. Small to medium-sized enterprises (SMEs) account for 90% of business worldwide. However, only a small portion of these report on their emissions due to costs and complexity.”

 

Who we are:

Leading Point is a fintech specialising in digital operating models. We are revolutionising the way operating models are created and managed through our proprietary technology, modeller™, and expert services delivered by our team of specialists.

 

 


What COP26 means for Financial Services

 

Many have proclaimed COP26 as a failure, with funding falling short, loose wording and non-binding commitments. However, despite the doom and gloom, there was a bright spot; the UK’s finance industry.

Trillions need to be invested to achieve the 1.5 degrees target, but governments alone do not have the funds to achieve this. Alternative sources of finance must be found, and private investment needs to be encouraged on all fronts to, ‘go green’. Looking at supply-side energy alone, the IPPC estimates that up to $3.8 trillion needs to be mobilised annually to achieve the transition to net-zero by 2050.

The UK led from the front in green finance, introducing plans to become the world’s first net-zero aligned financial centre. New Treasury rules for financial institutions, listed on the London Stock Exchange, mean that companies will have to create and publish net-zero transition plans by 2023, although the full details are yet to be announced. These plans will be evaluated by a new institution, but crucially, are not mandatory. The adjudicator of the investment plans will be investors. Although some argue the regulation could be stronger, just like national climate targets, once there are institutions publishing their alignment with net-zero, there is a level of accountability that can be scrutinised and a platform for comparison which encourages competition. Anything stronger could have pushed investment firms into less-regulated exchanges.

Encouragingly, the private sector showed strong engagement, with nearly 500 global financial services firms agreeing to align $130 trillion — around 40% of the world’s financial assets — with the goals set out in the Paris Agreement, including limiting global warming to 1.5 degrees Celsius.

From large multinational companies, to small local businesses, the summit provided greater clarity on how climate policies and regulations will shape the future business environment. The progress made, on phasing out fossil fuel subsidies and coal investments, was a clear signal to the global market about the future viability of fossil fuels. It will now be more difficult to gain funding to expand existing or build new coal mines. Over time, this adjustment will have wider impacts on the funding of other polluting industries.

This new framework will give the private sector the confidence and certainty it needs to invest in green technology and green energy. Renewable energy is already the cheapest form of energy in 2/3 of the world. This reassurance will be crucial in driving the economies of scale we need, within the renewable energy industry.

A truly sustainable future is still a long way off. The private sector will still invest in fossil fuels, new regulations will cause challenges, and ESG remains optional; but initial signals from COP26 show that the future of the world is looking green.

 

By Maria King — ESG Associate at Leading Point

 

 

 

 

 

 

Who we are:

Leading Point is a fintech specialising in digital operating models. We are revolutionising the way operating models are created and managed through our proprietary technology, modellr™, and expert services delivered by our team of specialists.


Arx Alliance Cyber Security Newsletter #1

— Originally published October 4, 2021 at ARX — 

Welcome to our inaugural newsletter! Thank you for taking the time to spend a few minutes with us as we discuss the world of cybersecurity and try to share interesting stories, perspectives, and news. Those who know us already will know we are a massive advocate for the ‘little guy’ and feel more needs to be done to help create visibility, transparency, and increased education for SMEs who would otherwise not be in a position to combat or even manage an ever-worsening world of cyber. Therefore, we genuinely hope this monthly sharing of information will help organisations, both small and large, better understand and therefore manage their respective landscapes when it comes to cybersecurity and supply chain risk management.

Modern day cyber attacks

Let me first begin with a question: how many companies out there (regardless of size) believe they are immune to a cyber-attack? In my humble opinion, the simple answer is a big fat zero! Size clearly does not play a role in an organisations ability to avoid attacks which has been proven time and again as some of the largest tech companies in the world have fallen victim on multiple occasions. It therefore won’t surprise many that more than 90% of industrial companies are open to cyber-attacks. Perhaps this is due to their perceived lack of industrial organisations being tech-savvy. One such (worrying) stat was that “…penetration testers gained access to the industrial control systems (ICS) networks at 75% of these companies“. Let’s also not forget, these are often large organisations who demand and work with a large network of suppliers therefore potentially resulting in a knock-on effect that no one would want to experience. Some eye-opening & eye-catching stats within which are worth a read!

There are of course plenty of preventative measures available (but as mentioned above, unfortunately not accessible for all) however, as the old adage goes look close to home first and foremost to begin addressing issues. But what does this actually mean in a practical sense?! It’s not as complicated as it might sound at first with six basic things one can do to prevent being hacked. Changing personal behaviours will not only help individuals in their usage of personal devices but also when using company infrastructure. For instance, using free to use authenticator tools by turning on two-/multi-factor authentication and using a password manager would be two great steps to get us all started.

The importance of multi-factor authentication and strong passwords seems obvious but is regularly overlooked by the masses. This helps protect data, devices, and systems from unauthorised access. There have been many examples of poor password strength being used repeatedly including the use of the same ‘weak’ passwords for most (if not all) access. Let’s not forget, hackers are continually upping their game to ensure they can access what we don’t want them to; therefore, meaning we have to continually up our game too to stay one- step ahead. A simple change in approach of regular password changes and the use of password managers to help generate random passwords would make a material difference in this line of defence.

What are sniffing attacks?

It is important the industry terminology and acronyms don’t put people off from exploring approaches and solutions to addressing cyber issues. This not only helps cut through the jargon but also results in the basic measures being put into place for what’s (at some point inevitably) to come. Sniffing attacks is one such term that is gaining prominence among cybercriminals today to steal customer data and compromise network security.

To put into perspective exactly how much cyber criminals are raising their game, it might surprise you to know that these attacks are not at all random and opportunistic as one might think. There is a whole ecosystem where hackers can actually purchase access to victims’ networks from other cybercriminal groups and initial access brokers (IABs). Attackers are so savvy they have lists based on Geography, Revenue, Sectors, and Access Type which they are explicitly looking for in terms of vulnerabilities to target. This has gone so far that its even has a mainstream and very much identifiable name: Ransomware- as-a-Service (RaaS) with pricing far outweighed by the potential of payouts.

It is therefore no surprise that the cyber security industry is combatting people burnout! The ‘defenders’ of the peace are not only inundated but often the unsung heroes as their visibility is reduced the better the job they perform. This is of course due to increased cybercriminal sophistication which in turn means things need to change with some practice changes including investing in solutions that empower these teams to detect and stop attacks. The added ability to provide non-IT jargon-based management reports would be a massive plus to these individuals in helping to facilitate decision making at the very top. This approach will in turn promote a proactive and preventative strategy rather than fire-fighting once the problem has landed on their doorstep. Some food for thought!

Prevention and education!

Words by Dishang, COO Arx Alliance, COO Leading Point 


Severine Raymond Soulier joins the Leading Point advisory board

Leading Point™ are thrilled to welcome Severine Raymond Soulier as the newest member of their advisory board. Severine joins Leading Point™ to expand the product portfolio and its reach across international markets.   

 

Severine is the recently appointed Head of EMEA at Symphony.com – the secure, cloud-based, communication and content sharing platform. Severine has over a decade of experience within the Investment Banking sector and following 9 years with Thomson Reuters (now Refinitiv) where she was heading the Investment and Advisory division for EMEA leading a team of senior market development managers in charge of the Investing and Advisory revenue across the region. Severine Raymond brings a wealth of experience and expertise to Leading Point.

Severine Raymond Soulier says: “I am delighted to join the Leading Point team, I have been truly impressed by the talents within the team and by the transformation projects they have run with key financial players so far and look forward to bringing the company to the next level. I also fully embrace the diverse and inclusive culture of Rajen’s team and I will surely be enriched by the team and hope they can benefit from my leadership in return."

Rajen Madan, Founder & CEO of Leading Point says, "We are excited to have Severine join Leading Point. She brings expertise in strategy, go-to-market and team building for global established FS firms. She has driven high growth in her current role at Symphony. Severine’s rich experience will help us expand our product portfolio and reach across international markets. Severine is passionate about helping create future female leaders and will be a great role model and mentor to our wider team.”

 

Who we are:

Leading Point is a fintech specialising in digital operating models. We are revolutionising the way operating models are created and managed through our proprietary technology, modellr™, and expert services delivered by our team of specialists.

Contact: rajen@leadingpoint.io