There is now global acknowledgement that the climate crisis is a real and immediate threat, climate concerns as well as broader environmental and social considerations need to start moving into mainstream risk assessment and opportunity analysis. Capital markets are not understanding and integrating material sustainability considerations into their investment decisions, often resulting in capital being allocated to inefficient and even environmentally or socially damaging projects and assets. FoSDA has been formed to address this urgent situation from a data perspective and foster collaboration in the ecosystem.
Therefore, in January 2020 in Davos, Refinitiv and the World Economic Forum spearheaded the formation of a new multi-member alliance through the launch of the Future of Sustainable Data Alliance (FoSDA). The other founding partners are IIF, ASIFMA, Tsinghua University, OMFIF, GFMA, Climate Bonds Initiative, FinTech4good, Everledger, Oxford University, the Spatial Finance Initiative, Catapult, Finance for Biodiversity, and GoImpact.
This newly formed collaborative body of global influencers will focus on the fact that investor need reliable, decision-ready data to confidently invest more in sustainable economic activities – and will look to act as a thought leader with the view to ensure the availability of the data needed to accurately inform and increase capital raising needed to tackle global environmental and social challenges.
Mission : Our express aim is to identify and accelerate the reliable, actionable ESG data and related technology that is needed for improved investor decision making on the global journey to sustainable development.
We will achieve our objectives by:
Serving as a forum to harmonize and promote common standards and best practices
Facilitating exchange of experience and insights on relevant data
Working with our partners and supporters to produce a recommendation on the future of sustainable data. We will foster an evolving mindset; co-operate with regulators and the industry; and work to empower all organizations to meet our shared goals of economic stability and inclusive growth
As a global alliance, FoSDA has the international reach and expertise to initiate an open dialog around ESG initiatives; optimize transparency and foster sustainable finance at scale.