Data users must be able to analyze and compare ESG information in order to determine how well companies are performing against their peers, as well as for lending and investment purposes. The need for data has created numerous startups focused on ESG data collection, ratings and analysis, as well as noteworthy M&A activity involving established firms. Further, artificial intelligence and new, different types of data will increasingly support compliance with existing and new ESG regulations, creating even more opportunities for innovation. Continued Commercial Interest It is difficult to overstate the commercial interest in ESG data. Earlier this year, BlackRock bought a stake in the sustainability platform Clarity AI. This investment is the latest step for BlackRock's Aladdin platform, which continues to invest in its sustainability capabilities. Last year, it added 1,200 sustainability metrics and established data partnerships to help investors understand ESG and physical climate risks and opportunities.