Tom Group investing in ESG platform MioTech
Tom Group is investing in MioTech, an AI platform which provides comprehensive ESG (environmental, social and corporate governance) services for financial institutions and listed companies in China, the Hong Kong-listed firm said on Monday.
MioTech’s services covering data analytics, real-time risk monitoring and ESG ratings features.
“The investment in MioTech is in line with our strategic pivot to focus on technology-centric, data-driven and high growth potential sectors. It enriches our existing investment portfolio in FinTech and advanced data analytics and allows us to explore possibilities of operational synergy within Tom Group,” said Ken Yeung, the group’s CEO and executive director.
Tom Group initially invested in MioTech in March. Business Weekly, Tom’s flagship knowledge platform in Taiwan, has already been working with MioTech to meet growing ESG demand in China. The follow-on investment is a strong vote for the long-term potential of MioTech as a leading AI service provider in the ever-growing ESG space, said Yeung.
ESG has become a critical focus among the investment community, as an integral part of evaluating a company’s business sustainability, corporate image and values. Regulatory requirements have also recognized the importance of ESG and sustainable finance, with the Hong Kong Stock Exchange ruling to make ESG disclosure mandatory to all listed companies in 2020. ESG has become more important because of the COVID-19 outbreak and climate change.
Tom’s expertise in the region will further strengthen MioTech’s market presence, said Jason Tu, CEO and co-founder of MioTech.