Climate Bonds Initiative: 6th annual Conference

On 7 September 2021, FoSDA attended the Climate Bonds Initiative’s annual conference and co-hosted one of the panels that was focused on current challenges that both data providers and data users face in the ESG disclosure sphere and other related ESG data issues.

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FoSDA anniversary event: the future of sustainable data & its role in achieving global sustainability goals

Future of sustainable data & it's role in achieving global sustainability goals

OMFIF & the Future of Sustainable Data Alliance (FoSDA) hosted an event to celebrate FoSDA’s first anniversary and to discuss how data can be leveraged to enable the achievement of the UN Sustainable Development Goals, Paris Agreement goals, and a sustainable post-Covid recovery.

The event took place from 13:00 to 14:00 CET on February 17th and was centered around key focus areas and actions needed in the year ahead, including the mapping of Environmental, Social and Governance (ESG) data holes and gaps, taxonomies and their mapping to data, and the need for ESG data talent development globally.

Speakers included:

Sean Kindey

Sean Kindey, Co-founder and CEO of Climate Bonds Initiative

Sherry Madera

Sherry Madera, FoSDA Chair and Chief Industry & Government Affairs Officer at the London Stock Exchange

Fabio Natalucci

Fabio Natalucci, Deputy Director of the Monetary and Capital Markets Department at the International Monetary Fund

Verena Ross

Verena Ross, ESMA Executive Director & IOSCO Sustainable Finance Task Force co-lead on work stream 3 on CRAs, ESG ratings and ESG data providers

Michael Sheren

Michael Sheren, Senior Advisor at the Bank of England

Huw Van Steenis

Huw van Steenis, Senior Adviser to the CEO and Chair of the Sustainable Finance Steering Committee at UBS

Patricia Torres

Patricia Torres, Global Head of Sustainable Finance Solutions at Bloomberg

Simon Zadek

Simon Zadek, Finance for Biodiversity Chair

Agenda

13.00 CET: Welcome by Sherry Madera, FoSDA Chair & Chief Industry & Government Affairs Officer, LSEG

13.02-13.30 CET: PART 1 – In conversation with moderated by Sherry Madera
ESG data needs in the coming year – supervisory/user perspective
Speakers:

  • Verena Ross, ESMA Executive Director & co-lead of the IOSCO STF workstream focused on CRAs, ESG ratings and data providers
  • Fabio Natalucci, NGFS co-lead on bridging the data gaps & IMF Deputy Director of the Monetary and Capital Markets Department
  • Michael Sheren, Senior Advisor, Bank of England
  • Huw van Steenis, Senior Adviser to the CEO, Chair Sustainable Finance Steering Committee, UBS

13.30-13.58 CET: PART 2 – Panel discussion moderated by Danae Kyriakopoulou, Chief Economist and Director of Research at OMFIF
Key actions & focus areas in the year ahead from FoSDA partner perspective 

Speakers:

  • Sean Kidney, Co-founder and CEO, Climate Bonds Initiative and member of EU Platform on SF 
  • Simon Zadek, Finance for Biodiversity (F4B) Chair
  • Patricia Torres, Global Head of Sustainable Finance Solutions at Bloomberg

13.58 CET: Concluding remarks by Sherry Madera, FoSDA Chair & Chief Industry & Government Affairs Officer, LSEG

About FoSDA

Launched in Davos in January 2020 by Refinitiv and the World Economic Forum, the Future of Sustainable Data Alliance (FoSDA) is a multi-member alliance aiming at addressing the climate crisis and sustainability issues from a data perspective and fostering collaboration in financial markets. FoSDA believes that investors need reliable, decision-ready data to confidently invest in sustainable economic activities.

Founding partners of FoSDA include: OMFIF, IIF, ASIFMA, Tsinghua University, GFMA, Climate Bonds Initiative, FinTech4good, Everledger, Oxford University, the Spatial Finance Initiative, Catapult, Finance for Biodiversity, GoImpact and Icebreaker One.

The role of data in sustainable investment, policy and regulation

The role of data in sustainable investment, policy and regulation feature image

The move towards sustainability is accelerating even as the global economy grapples with the consequences of Covid-19, an OMFIF-Refinitiv report shows

  • Climate issues highlight technical gaps in the practical usage of non-financial data
  • Granular tracking through technology has improved, but regulators and investors struggle to determine precise attribution e.g. via Scope 3 emissions along global value chains
  • New data demands in the wake of the Covid-19 pandemic; regulatory and industry emphasis has rebalanced away from principally environmental issues to a more holistic focus across the three ESG pillars

Socioeconomic resilience in the face of risks such as the pandemic and climate change is moving to the forefront of agendas across the financial sector. Stakeholders are unanimous in the belief that clear and consistent environmental, social and governance data will be critical to realign the financial markets towards sustainable development and help achieve the sustainable development goals. While there has been significant progress in disclosure of information in relation to environmental and societal impacts over the past decade, this field is still young with unrealised potential.

Complementary advances in data capture, sharing and storage technologies, as well as in data analytics, are paving the way for understanding and extracting information for decision-making on non-financial issues. Central banks, supervisors and private firms are engaging in deeper levels of collaboration to develop common disclosure standards and governance frameworks for non-financial data via platforms such as the Central Banks and Supervisors Network for Greening the Financial System.