Crédit Agricole CIB launches AI to replace manual ESG reviews

The platform was first tested in Hong Kong before a wider APAC expansion.

Crédit Agricole CIB has launched what it says is Asia-Pacific's (APAC) first AI-powered, ESG-linked trade finance solution, aimed at helping companies measure and improve the sustainability of their supply chains.

The new platform, called Smart Platform Assisted SustainablE (SPASE), uses artificial intelligence to analyse trade transaction data and generate ESG performance reports across suppliers, products and trade flows. 

The bank said the tool allows companies to identify opportunities to improve sustainability while supporting business and financing decisions.

Crédit Agricole CIB said SPASE addresses one of the main challenges in sustainable trade finance by replacing the time-consuming manual assessment of suppliers' ESG performance with an automated process.

The platform integrates ESG data at the transaction level, enabling companies to assess their trade finance portfolios, strengthen relationships with higher-performing suppliers and identify new business opportunities. 

The bank said it also encourages suppliers to improve their ESG standards to remain competitive.

The solution has been piloted in Hong Kong with the regional sourcing hub of a global industrial services company. 

Crédit Agricole CIB plans to roll out SPASE across APAC, where it expects demand for sustainable finance to continue growing.