Like the TCFD, the TNFD reporting framework is expected to be incorporated into disclosure standards and written into national law by governments.
The evolving asset class still presents risks due to differing definitions, transparency levels and data quality, according to panellists at an ASIFMA conference.
Corporates are a few steps behind on ESG disclosures, but momentum is building under pressure from regulators and investors.
Two new reports from the BCBS outline banking system exposure to climate-related risks and recommend methodologies be adapted accordingly.
Asset managers had hoped that finalised regulatory technical standards for Level 2 SFDR reporting would be available to assist preparations for Level 1 compliance.
The UK's emissions trading scheme is “unlikely” to diverge too much from the EU's regime, says Hæge Fjellheim, Head of Carbon Research at Refinitiv.
Jay Clayton had previously defended voluntary ESG disclosures as opposed to mandatory, insisting that flexible requirements would be effective.
End-users are seeking more transparency around cost and methodology to improve comparability across third-party vendors.
Ahead of COP26 in November, a plethora of regulatory and legislative changes as well as industry-level initiatives will drastically impact the ESG investing space.
The harmonised global sustainability reporting framework offers comprehensive “running start” in standardised disclosure.