ESG - Are we laying the groundwork for a sustainable future?

Discover the latest insights on sustainable finance, regulatory drivers, and Europe's progress in aligning with global standards.

This panel discussion addresses regulatory gaps, the challenges of connecting reporting requirements with effective ESG steering, and shares key takeaways from the 2024 UN Biodiversity Conference in Colombia.  

Gain practical guidance on compliance and strategies for supporting long-term sustainability goals from experts who discussed the motivations behind ESG regulations, progress in standard setting, and the challenges in implementation. 

Key takeaways from the panel include: 

• The EU's CSRD aims to enhance ESG data quality, marking a significant step towards mandatory reporting. 
• The ISSB has made strides in developing international ESG standards, though challenges remain in managing numerous KPIs. 
• Regulators should create incentives for sustainable investments to drive transformation. 
• Financial institutions play a crucial role in promoting sustainable practices among their clients. 
• ESG data hubs which centralize data from utility companies and other sources, can significantly reduce the reporting burden for firms, helping them attract financing and align with their clients’ sustainability goals. 

“Taking a sustainable development mindset for companies based on quality data is a megachime, so it's here to stay. There will be bumps on the road. But it is complementing financial information and financial management and is the future for companies moving forward in a reasonable and accountable manner.”

Patrick de Cambourg, Chair of the Sustainability Reporting Board, European Financial Reporting Advisory Group (EFRAG)

“Moving from a non-mandatory reporting environment to a mandatory reporting environment marks a significant change.”

Sam Prestidge, ISSB Technical Staff Strategy Lead, IFRS

"Financial institutions should be forerunners on finding their transformation pathway because they are important intermediaries and have a lot of clients and therefore can sew in the transformation topics into their clients."

Christiane Rudolph, Chief Sustainability Officer, DEG

"Disclosure only is no steering mechanism. We need to move from reporting to steering."  

Sven Ludwig, Partner for Sustainable Finance and Strategic Initiatives, EY ifb