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Data for mobilisation of capital towards global sustainability goals: the Future of Sustainable Data Alliance (FoSDA) launches the Data Council

Brussels, 17 February 2021 – Today, as we celebrate the anniversary of its creation, the Future of Sustainable Data Alliance (FoSDA) announces the launch of the Data Council.

The Data Council will turbo-charge the FoSDA workstreams and convene global data expertise – bringing together Refinitiv, S&P Global and Moody’s ESG Solutions Group, while also looking forward to adding new members rapidly.

The FoSDA Data Council will seek to act as a much-needed industry and regulator sounding board focused on data needed for sustainable finance.  This group of market data experts will serve to add realistic insight into the exploding volumes of data being used and demanded to deploy capital sustainably and will help chart a path forward with increasing efficiency and transparency. At a time when sustainability and the digital transformation of our economies are the two highest priorities of governments and businesses across the world, it is of utmost importance to create synergies between them where possible. Indeed, data is critically needed by investors and governments to deploy capital sustainably to achieve global sustainability goals. This is at the very heart of FoSDA’s and its Data Council’s actions.

The Council will help address critical questions in relation to the role, the indications, and the learnings we can glean from data to inform sustainable policy, investments, and business decisions. The Council’s members will in particular look to tackle the question of what datasets are needed to meet the requirements of regulators, citizens, and the market now and in the future.

By bringing the industry players together FoSDA hopes to deliver invaluable market insight to global regulators. FoSDA invites other data providers to join its Data Council to work through market problems and solutions related to sustainability data. FoSDA Data Council members Refinitiv, Moody’s ESG Solutions Group and S&P Global are already in conversation with fellow data providers and invite others to get in touch.

Dr Richard Mattison, CEO of S&P Global Trucost and Chief Product Officer ESG, S&P Global says “ESG data is increasingly being integrated into financial decision-making but more work is required in order to ensure there are clear definitions and standards and that data gaps are identified and addressed. S&P Global is excited to join the Future of Sustainable Data Alliance Data Council so that we can accelerate progress on providing comparable and consistent sustainability data to market participants.”

Ludovic D’Otreppe, Executive Director, V.E an affiliate of Moody’s says “At Moody’s, we are committed to advancing clarity, knowledge and fairness in an interconnected world. As demand for reliable, consistent, and comprehensive ESG data is increasing, we are proud to bring our expertise to the FoSDA Data Council. We look forward to working with our partners to advance market understanding and usability of ESG data and to support the drive towards greener economies and a sustainable future.”

“As the market for sustainable investing and financing grows, the demands on useable decision ready data are also increasing. Establishing clarity on how to shape the maturing requirements for investment-grade data to support financial markets and regulatory policy is not a small task, but this forum brings together a wealth of experience and market understanding of the challenges and opportunities that data can enable in the effort to meet global sustainability goals. We are excited to convene global data providers in the FoSDA Data Council.” adds Leon Saunders Calvert, Head of Research & Portfolio Management at LSEG, previously Head of Sustainable Investing for Refinitiv (now an LSEG business).

About FoSDA: Launched at the World Economic Forum in January 2020, the Future of Sustainable Data Alliance brings global partners together to seek to identify and accelerate the reliable, actionable ESG data and related technology that is needed to meet the Paris Agreement and UN Sustainable Development Goals? Founding partners include the World Economic Forum, IIF, OMFIF, Tsinghua University, ASIFMA, GFMA, Climate Bonds Initiative, FinTech4Good, Everledger, Institute of Public and Environmental Affairs, Bank of Africa-BCME, Finance for Biodiversity, GoImpact and Icebreaker One, with Bloomberg joining as a partner in January 2021.

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