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European Sustainability framework implementation: remaining data challenges (availability, usability and simplicity)

Day 1 Afternoon

Wednesday 21 February

Room :

ROOM 2

Speakers

Chair
Patrick de Cambourg
Chair of the Sustainability Reporting Board - European Financial Reporting Advisory Group (EFRAG)
Public Authorities
Carlo Comporti
Commissioner - Commissione Nazionale per le Società e la Borsa (CONSOB)
Sam Prestidge
ISSB Technical Strategy Lead - International Financial Reporting Standards (IFRS) Foundation
Sasha Sadan
Director of ESG - Financial Conduct Authority (FCA)
George Theocharides
Chairman - Cyprus Securities and Exchange Commission
Industry Representatives
Cornelia Andersson
Group Head of Sustainable Finance and Investing - London Stock Exchange Group (LSEG)
Daniela Marilungo
Head of International Public Policy - Bank of America

Objectives

The EU framework on sustainable finance aims to enhance transparency in the sustainability of financial and non-financial corporations through regulations such as SFDR, CSDR, the green taxonomy, and ESRS. Global efforts, like the ISSB standards, also target climate-related disclosures.

However, a lack of high-quality and comparable data poses a significant obstacle, especially from SMEs and households. European asset managers have called for the regulation of sustainable data providers and rating agencies. The consultations on the ESRS proposals have sparked a need for a simpler framework, with the Commission’s delegated act introducing a materiality test, a change welcomed by some but criticized by NGOs and financial investors.

The roundtable will evaluate the actual reforms’ utility and challenges, including how it can involve SMEs, and the anticipated progress in implementing green taxonomy, CSRD, ESRS, and ISSB standards.

Points of discussion

  1. What are the main achievements and remaining challenges regarding the EU and global Sustainability frameworks?
  2. How to overcome the implementation difficulties regarding the EU framework, including those related to SMEs