Lightsource bp get visibility of enterprise wide ESG risk management and implement Navigator platform to manage global counterparty due diligence

Results

  • Clear and detailed view of enterprise-wide ESG risk and which areas could benefit from enhanced controls
 
  • Improved efficiency, accuracy and consistency of all third party due diligence across an international workforce and supply chain
 
  • 24/7 monitoring capability for PEP’s, Sanctions, adverse media and changes to counter-party structure

Solutions

  • Navigilant advisory services
 
  • Navigator platform

Navigilant’s advisory services combined with the Navigator platform deliver an in-depth enterprise wide ESG solution

Navigilant was engaged by Lightsource bp (LSBP) to conduct an independent review of their existing ESG compliance policies and procedures in order to identify any gaps in relation to those expected of a sustainable energy company, taking into account all relevant local and international regulatory requirements and also against expected industry standards.

As a result of the findings of the gap analysis, Navigilant recommended that a full risk assessment should be undertaken in order to fully understand the global compliance risk profile across all geographies and business lines. Part of this additional activity involved a review of the existing third party due diligence policy and process to identify areas where LSBP may be at risk, particularly in relation to screening of counter-parties and associated persons.

  • Our efforts for LSBP were focussed in two areas, consulting and systems development. Our work included:
  • Detailed gap analysis and risk assessment reports covering all areas in scope.


Prioritised recommendations for controls enhancement where gaps were found to ensure risk levels could be reduced and controlled.

Navigilant’s SaaS platform was customised quickly to replace both the existing manual workflow and external screening provider in order to implement a fully automated, customised end to end workflow platform utilising best of breed third party feeds to improve efficiency, coverage and depth on a more cost-effective basis. 
Navigilant further implemented a number of additional bespoke modules to cover conflicts of interest, donations and contributions, and gifts and hospitality registers.

About Lightsource bp

www.lightsourcebp.com

Lightsource bp is a global leader in solar development, management and operations. For over a decade, the organisation has been actively working to change the way our world is powered, with sustainable and responsible solar power. Since 2010, and following the 50:50 joint venture with bp, the organisation has been deploying affordable, reliable, large-scale solar to help businesses and communities decarbonise. Its people and projects are focused on supporting long-term sustainable growth and strengthening the resilience of the world around us.

Get in touch

Navigilant Holding Ltd
77-79 Maygrove Road
London NW6 2EG