Introduction
Map Impact has adopted the principles set out in the International Capital Market Association (ICMA) Code of Conduct for ESG Ratings and Data Products Providers.
This is part of our commitment to ensuring that our climate and biodiversity datasets are not only scientifically robust, but also transparent, well-governed and suitable for use within regulated financial decision-making.
What is the ICMA Code of Conduct?
The ICMA Code is an industry-led framework designed to improve trust, transparency and governance in the provision of ESG data.
It was developed in response to increasing reliance on ESG data by:
- banks and building societies
- insurers and reinsurers
- asset managers and investors
- regulators and supervisory bodies
The Code focuses on four core principles:
- Governance: Clear oversight and accountability for how data is produced
- Transparency: Visibility of methodologies, data sources and assumptions
- Systems & Controls: Robust processes to ensure data quality and consistency
- Conflicts of Interest: Safeguards to protect the integrity and independence of outputs
It operates on a voluntary ‘comply or explain’ basis, with providers expected to publicly disclose how they align with these principles.
Why This Matters for Climate and Nature Risk Data
Climate and biodiversity risk data is increasingly required and used within:
- credit risk models
- insurance underwriting
- capital and stress testing frameworks
- regulatory reporting
However, the quality and transparency of ESG data can vary significantly across providers.
For regulated firms, this creates a challenge:
Can the data be relied upon within risk management, audit and regulatory frameworks?
The ICMA Code provides a benchmark to help answer that question.
What It Means for Map Impact
Aligning with the ICMA Code formalises and strengthens how we develop and deliver our datasets.
In practice, this means:
- Documented methodologies describing how our hazard datasets are derived
- Clear data lineage from environmental inputs through to property-level outputs
- Controlled data processes including versioning, validation and release management
- Defined governance structures overseeing methodology and dataset development
Our datasets – BiodiversityView, HeatView, DroughtView and WildfireView – are designed as objective, hazard-based data layers, not subjective ESG ratings. This aligns naturally with the Code’s emphasis on transparency and independence.
Benefits for Users of Map Impact Data
For banks, insurers and other regulated users, alignment with the ICMA Code provides several practical advantages:
1. Greater transparency and explainability
Users can understand how data is constructed, enabling effective model validation and internal challenge.
2. Stronger governance and audit readiness
Documented processes and controls support use within model risk frameworks, audit reviews and regulatory engagement.
3. Confidence in data integrity
Structured systems and controls reduce the risk of inconsistency or undocumented changes.
4. Clear model boundaries
By focusing on hazard exposure rather than financial outcomes, Map Impact data can be integrated cleanly into internal models without hidden assumptions.
5. Reduced onboarding friction
Availability of supporting documentation (methodology packs, assurance summaries, alignment notes) supports procurement, validation and vendor governance processes.
A Subtle but Important Additional Benefit
Alignment with the ICMA Code also helps address a common issue in climate risk: The tendency to rely on incomplete or overly simplified data.
By improving transparency and governance, the Code encourages more robust and comprehensive risk assessment, particularly for emerging hazards such as heat, drought and wildfire.
Looking Ahead
Climate and nature-related risks are evolving rapidly, as are regulatory expectations.
We view alignment with the ICMA Code not as a one-off exercise, but as part of an ongoing commitment to:
- continuous methodological improvement
- engagement with industry and regulatory developments
- supporting clients in meeting their own governance and risk management obligations
Conclusion
The ICMA Code is ultimately about trust.
For Map Impact, alignment reinforces our position as a provider of transparent, decision-useful environmental risk data.
For our users, it provides greater confidence that the data they rely on can stand up to scrutiny, whether from internal risk functions, auditors or regulators.
Find out more here: https://www.icmagroup.org/sustainable-finance/icma-and-other-sustainable-finance-initiatives/code-of-conduct-for-esg-ratings-and-data-products-providers-2
