Published on: 17 May 2024
TISCreport (Transparency in Supply Chains Report) today announced the publication of a pioneering green paper detailing the creation and piloting of the new Automated Corporate Transparency Score. This innovative scoring system leverages artificial intelligence and machine learning to evaluate corporate practices against stringent Social and Governance standards in the UK, setting a new benchmark in corporate transparency.
Designed to address the challenges and barriers identified in a recent study commissioned by TISCreport, the green paper lays the groundwork for standardising transparency metrics that measure corporate commitment to ethical practices and compliance. The Transparency Score aims to provide a clear, objective, and evolving tool that businesses, stakeholders, and regulators can rely on to assess corporate behavior.
Jaya Chakrabarti, CEO of TISCreport, commented on the pilot, saying, "With the introduction of the Automated Corporate Transparency Score, we are aiming to set a new standard for accountability. This score is not just a measure; it's a movement towards building trust and integrity in business practices at a time when it's needed the most. Our green paper outlines our approach and vision for a transparent corporate environment that upholds human rights and ethical governance."
Stuart Gallemore, CTO of TISCreport, added, "The development of this scoring system represents a significant technological advancement in how we monitor and evaluate corporate conduct. By harnessing the power of AI, we can now provide more dynamic and robust insights into corporate behaviours, ensuring that they are not only transparent but are held to the highest standards of ethical practice."
The green paper is available to the public and aims to engage various stakeholders in a meaningful discussion on how best to evolve, implement and utilise the Transparency Score. It is a call to action for businesses to join in this important initiative, driving the adoption of practices that ensure fairness, accountability, and transparency at all levels of operation.
About TISCreport:
TISCreport is an open data platform dedicated to increasing transparency in supply chains and corporate practices globally. By providing detailed insights and analytics, TISCreport helps companies, regulators, and consumers make informed decisions that promote ethical practices and corporate responsibility.
