1.1.0 (06 / 2023)
Release notes for release 1.1.0.
Release notes 06/2023
Release number: 1.1.0
Release date: 14th June, 2023
Notes updated: 27th September, 2023
Current state: Stable
The most significant improvements to the Upright model compared to the previous release 1.0.0 are listed below. More information on releases can be found on page Release cycle.
Net impact
Methodology for modeling corporate loans has been updated. The impact of companies providing corporate loans now resembles more closely the target industries they enable
The target industry split of corporate loans for individual banks is calculated using disclosed data from the banks whenever available. In situations where disclosed data is not available, an estimated average corporate loans split by industry is used. Average split has been estimated based on various sources such as Banking on Climate Chaos
The value flows between recycled raw materials and products using these materials have been improved. In addition, for calculating allocation of impacts from virgin to recycled raw materials, the loss of quality method used in many LCA calculation methodologies was extended to cover all recycled materials. These changes have slightly decreased the positive environmental impacts of many secondary raw materials, and added some new downstream impacts to them
EU taxonomy & SFDR Principal adverse impacts
Year is now available for Principal Adverse Impact estimates via the Upright API. Previously this was available only for disclosed values
Company-disclosed values for the following EU taxonomy indicators now available:
EU taxonomy alignment (turnover, CapEx, OpEx)
EU taxonomy eligibility (turnover, CapEx, OpEx)
(Note: turnover-based company-disclosed EU taxonomy eligibility figures were available already previously. The others are additions.)
Company-reporting-based values are now available for the following optional PAI indicators:
Lack of human rights policy
Lack of anti-corruption/anti-bribery policy
Water usage
Given that companies never directly state a lack of a human rights or anti-corruption/anti-bribery policy, Upright infers a lack of such policy if the company's annual reports and/or sustainability reports do not state the existence of such a policy. As this is not a direct disclosure, these are marked as Upright modelled estimates, despite them being based on company reporting
Overall, coverage of disclosed figures has increased considerably, especially for indicators related to EU SFDR PAI GHG emissions and the EU taxonomy
EU SFDR PAI indicator estimates for GHG emissions have been updated using a broader set of company disclosure data points and enhanced estimation algorithm to provide more accurate estimates
The modelling has been improved especially for companies producing software applications, digital cloud platforms, engineering and other professional services
EU SFDR PAI indicator estimates for other PAI indicators have been been updated using a broader set of company disclosure data point to provide more accurate estimates
API changes
Breaking change: a new API query parameter “scoreUnit” has been introduced to control which unit any queried impact scores are returned in. To avoid API users from accidentally receiving other than the expected units, the “scoreUnit” parameter will become mandatory in June 14th. The Upright’s classic score will remain available for reporting and other purposes through both API and Upright Platform
The “scoreUnit” parameter accepts one of the three following values:
cents-per-dollar: The returned scores describe how many cents of cost / benefit the assessable produces for each dollar of revenue
dollars-per-year: The returned scores describe how many dollars of cost / benefit the assessable produces every year with its revenue. Available only for companies, not on the aggregate level (e.g. fund or index)
classic: The returned scores use the same scale as the Upright platform has been using until the 1.0.0 release
The “scoreUnit” parameter is supported by the following API end-points:
Breaking change: a new API query parameter scoreUnithas been introduced to control which unit any queried impact scores are returned in. The scoreUnitparameter becomes mandatory in June 14th.
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