ClimateBUG : A data-driven framework for analyzing bank reporting through a climate lens

Abstract

This paper applies computational linguistics learning methods to the banking industry and climate change fields. We introduce our data-driven framework, climateBUG, with the aim of detecting latent information about how banks discuss their activities related to climate change using natural language processing (NLP). This framework consists of an ingestion pipeline, a configurable database, and a set of API’s. In addition, climateBUG offers two standalone components, namely a unique annotated corpus of approximately 1.1M statements from EU banks’ annual and sustainability reporting and a deep learning model adapted to the semantics of the corpus. When benchmarking on classification performance, our model outperforms other models with similar scopes due to its stronger domain relevance. We also provide examples of how the framework can be applied from a user perspective.