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According to the Bank’s website, MALENA (machine learning ESG analyst) is the World Bank’s first AI as a Service. MALENA comprises a suite of AI-powered solutions designed to support ESG due diligence in EMDEs and trained in-house using IFC’s extensive sustainability data and expertise. IFC publicly released a free version of MALENA for all EMDE stakeholders such as asset managers, investors and regulators in December 2023.
The objectives are: At the firm level, to increase economically, socially, and environmentally sustainable private investments in EMDEs using MALENA AI solutions to enhance analytical capacity to assess ESG issues by investors and financial institutions. At the regulatory level, to improve EMDE regulatory supervision and oversight capabilities by using MALENA AI solutions to support regulators, including financial regulators and securities exchanges, to oversee ESG reporting and disclosures in EMDEs. At the market level, increase awareness of the role and use of AI in supporting ESG risk screening by conducting demos of MALENA, providing access to a Business to Consumer (B2C) web-based, global public good version of MALENA, and enhance the platform with new features and functionalities.
Estimated Total Budget: $3,900,000.00 (Project budget includes all project-funded activities)
No contacts available at the time of disclosure.
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