SSE joins GRI, SASB, and Arabesque for Data & Sustainability Summit
30 June 2020
The Path to Standardization in ESG Investing: EU Non-Financial Reporting Directive (NFRD)When asked about the EU’s work on its NFRD, the SASB speaker emphasised that a revised NFRD could lead to a globally accepted system of standards for non-financial disclosure. SASB also mentioned that the EU’s “double materiality” concept is key to achieving the objectives of the NFRD. Dobule materiality recognizes that ESG information has a broader audience than traditional financial reporting. The double materiality entails that ESG issues impact a company’s financial performance and also reflects how a company’s actions on these issues impact society. More can be found in SASB white paper. GRI also supports the European Commission’s plans to revise the NFRD and has made available its contribution to the EU public consultation regarding the NFRD. SSE speaker made remarks about EU NFRD influence on securities regulators around the world. Many securities regulators around the world have demonstrated increasing interest in the relationship between sustainability issues and their core mandates. In order to support securities regulators on how, within their existing mandates, they can act (and are acting) on sustainability-related risks and opportunities, the SSE recently launched a new interactive Securities Regulators Database to provide examples of how securities regulators are already contributing to the achievement of the Sustainable Development Goals. These examples can be filtered by the ten action areas found in the SSE’s Action Plan for securities regulators which is the central guidance of the SSE publication How securities regulators can support the Sustainable Development Goals. To learn more about SSE work in this area, visit our Securities Regulator workstream on the SSE website.
About the SSE
The SSE initiative is a UN Partnership Programme organised by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policymakers and relevant international organizations, can enhance performance on ESG (environmental, social and corporate governance) issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals. The SSE seeks to achieve this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus-building, and providing technical assistance and advisory services.