Globally, there is a proliferation of ESG standards – often alluded to as non-financial information – resulting from multiple private or public initiatives. Such initiatives are fuelled in particular by the need to swiftly address climate related urgencies by appropriately channelling savings to sustainable investments, and symmetrically, the always increasing sensibility of investors regarding sustainable investments.
However, despite the involvement of the G20, and remarkable although partial achievements such as the proposals of the Task force on Climate finance Disclosure, there is still no single definition of “sustainability”. In addition, the focus and approaches of these initiatives vary greatly.
The session in this context is dedicated to outline the condition and priorities to leverage the increasing global political alignment in order to make progress in the much needed Global and EU ESG standards convergence.
Points of discussion
- What are the main needs and challenges, which are calling for more standardized, systematic, legible non-financial information, in the EU and globally? What are the practical prerequisites enabling the provision of sustainability disclosures?
- What are the flaws and weaknesses of the current non-financial reporting and the main areas to address to deliver consistent ESG frameworks?
- What are the main issues to address in order to make swift progress in developing consistent non-financial reporting standards globally?