ESG Insider: Investor network takes stock of global sustainability reporting requirements
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Asset owners and investment managers are facing an increasing number of ESG-related reporting requirements, but there is still wide variation in standards across jurisdictions, according to a new report .
In a review of ESG reporting trends, the United Nations-backed Principles for Responsible Investment, or PRI, listed the EU, the U.K. and Hong Kong as having the most regulation, followed by Australia, China and New Zealand. PRI described the U.S. and Canada as currently “low-regulation” jurisdictions.
PRI also said finding global consensus on ESG reporting appears to be a “long way off,” noting that there were even disparities within the EU in how the bloc’s rules were implemented by its 27 member states at a national level. The report comes as the newly created International Sustainability Standards Board , which has proposed two sustainability disclosure standards to establish uniform global ESG standards, published the results of a consultation on its proposals on Aug. 5.
In this week’s newsletter, we cover the reaction of renewable energy firms to a new U.S. climate bill, while our Chart of the Week looks at how soaring profits and a global energy crisis are putting pressure on European energy majors to revive their capital spending.
In our weekly podcast, we look at the latest developments in a reform of the EU’s sustainability reporting rules for companies. The Corporate Sustainability Reporting Directive, or CSRD, will reform the Non-Financial Reporting Directive, which was introduced in 2014 to require large companies to report on environmental and social issues. The CSRD introduces more detailed ESG reporting requirements for large companies. ?
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ESG Insider Podcast
In this episode of the ESG Insider podcast we speak to Adrie Heinsbroek, Chief Sustainability Officer at Netherlands-based asset manager NN Investment Partners. Adrie explains how the Corporate Sustainability Reporting Directive, or CSRD, could impact ESG-focused fund managers — and how the sorting hat from Harry Potter helps explain the trajectory of ESG regulation.
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