What's new in the February 2024 ontology update and how can you leverage the latest information?

This page presents relevant information to clients regarding the ontology update in February 2024

What is an ontology update?

The ontology is the "dictionary" that guides Datamaran's AI engine in interpreting content. It is composed of three levels: topics, factors and terms.

Datamaran regularly reviews, adapts and adds to the ontology to ensure it is as comprehensive and representative as possible of the ESG+ risk, opportunity and impact landscape; this ensures the best signals and take-aways for clients.

In early February 2024, an update will introduce new topics, factors and terms.

What is new in this ontology update?

New topics to consider in issue mapping:

A new topic has been created covering Outer space management. This is most relevant for companies involved in aerospace and telecommunications.

A new topic has been created covering Ambient pollution. This replaces and extends the scope of the previous topic 'Noise pollution'.

New and remodeled factors automatically accounted for:

Experiential purchases & luxury consumer demands added to the topic ‘Changing consumption patterns’.

Artisanal production added to the topic ‘Local economy support’.

The topic ‘Business model innovation’ saw the following updates: Mobile banking & digital wallets remodeled from the factor ‘Fintech’; Cloud & edge computing remodeled from the factor ‘Cloud computing’.

Lab-grown food added to the topic ‘Biotechnology & ethical considerations’.

Climate justice added to the topic ‘Climate change risks & management’.

Pet health, nutrition & wellbeing added to the topic ‘Animal welfare’.

Transition-enabling energy services remodeled from the factor ‘Energy transition & supporting instruments’ under the topic ‘Transition to renewable energy’.

Distributed ledger technologies remodeled from the factor ‘Blockchain’ under the topic ‘Advanced technologies & innovations’ and Quantum technologies was added.

Descriptions and further details will be available here.

How will this update affect your analyses?

Existing analyses will not be affected until they are re-run or a new monitoring version is generated.

This ontology update reflects the most accurate information at this point in time and provides the best representation of stakeholder priorities. However, for existing analyses being monitored, there may be minor monitoring anomalies for issues including topics outlined above that will be smoothed when the subsequent monitoring version is generated.

How can you make use of the updated ontology?

Clients should consider their Issue Mappings and whether they want to include any of the new topics in their Analysis and Executive Dashboard analyses. It is highly recommended to consider inclusion of these topics in any new analyses; they can be easily added to the relevant issues in the Issue Mapping module. If you're unsure of where to start, have a look at the default Issue Mapping template for your sector.

Upon re-run of any analysis after the release of this February update, the latest version of the ontology will be accounted for. 

Where else can you go for questions or help?

Clients can use the chat feature in Datamaran at any time to chat live with one of our experts, or get in touch with their Customer Success Manager.