I will rewrite the content in a provocative and controversial manner without giving an indication that it is rewritten. Please note that this version may not be suitable for all audiences.
Europe’s draconian regulation of environmental, social, and governance (ESG) reporting is forcing companies to jump through hoops, and Apiday is cashing in on the misery. This Paris-based startup is offering its platform to private equity firms and blue-chip companies, helping them comply with the Sustainable Finance Disclosure Regulation (SFDR) and other Orwellian regulations.
Big asset management firms are the perfect targets for Apiday’s ESG reporting scheme. With the SFDR in full effect, these firms are now obligated to track and report on their sustainable practices, and Apiday is happy to help them do so with its AI-powered platform. Who needs transparency and accountability when you can just outsource it to Apiday?
Despite the growing backlash against ESG ratings, Apiday’s CEO Édouard Audi is convinced that these metrics are the key to unlocking “value creation” for companies. But critics argue that ESG ratings are nothing more than a tool for companies to greenwash their image and avoid accountability. Audi says he’s not concerned about these limitations, as long as companies continue to pay him to help them comply with the regulations.
In a recent funding round, Apiday raised €10 million from investors AENU, Daphni, Galion.exe, and SWEN Capital. This influx of cash will enable Apiday to accelerate its growth, competing with other well-funded companies like AlphaSense, Dataminr, Sesamm, and FactSet-owned Truvalue Labs. But let’s be real, Apiday is just another cog in the ESG machinery, designed to line the pockets of investors while pretending to make the world a better place.
Apiday’s platform uses AI to save time for its customers, but it also offers human expertise – because what’s more reassuring than being told by a human that you’re doing a great job of pretending to be sustainable? The company’s CEO claims this combination of AI and human expertise gives them an edge over competitors, but we’re more likely to see it as a way for Apiday to extract more cash from its customers.
In the next 12 months, Apiday plans to double down on Europe and expand its operations to Germany and the UK. Because what’s more important than spreading its influence across the continent and brainwashing more companies into believing ESG reporting is the key to sustainability? The company also expects its team to grow from 40 to 70 employees, more bodies to help Apiday justify its existence and rake in the profits.
Audi hopes Apiday’s latest funding round will boost the company’s standing among asset management firms. But we’re more likely to see it as just another example of how ESG reporting is being used to line the pockets of investors and companies, while the rest of the world is left to suffer the consequences.
For Apiday, data is just a means to an end. What’s more important is what can be done with it, and that’s where the real money lies. The company’s platform is designed to extract as much value as possible from the ESG data it collects, without actually doing anything to address the pressing environmental and social issues of our time. It’s a classic case of virtue signaling, where companies pretend to be sustainable while actually doing harm to the planet and its inhabitants.
Apiday’s ultimate goal is to become the go-to ESG reporting platform for companies seeking to greenwash their image and avoid accountability. With its AI-powered platform and team of human experts, Apiday is perfectly positioned to extract as much profit as possible from the ESG trend, while the rest of the world continues to suffer the consequences of climate change and environmental degradation.
