Refinitiv has launched the Future of Sustainable Data Alliance (The Alliance) in conjunction with the World Economic Forum, United Nations, IIF, OMFIF, Tsinghua University, ASIFMA, GFMA, Climate Bonds Initiative, FinTech4good, Everledger, Institute of Public and Environmental Affairs, Bank of Africa-BCME, GoImpact and other founding member firms. The objective of The Alliance is to accelerate the mobilisation of capital into sustainable finance. The Alliance will solve the question: What data do investors and governments need to meet the requirements of both regulators and customers for sustainable investments and products in pursuit of the 2030 Agenda.
The Alliance says: “Fundamental ESG data access and additional alternative data sets are seen as key drivers to help investors make sustainable investment decisions and positively contribute to the UN Sustainable Development Goals.”
Climate change and the UN Sustainable Development Goals (SDGs) continue to accelerate the drive towards sustainable finance, however information to quantify, measure and compare impact is in its infancy. Companies both public and private require disclosure standards on tracking, managing and reporting such information to their stakeholders. The lack of actionable data and standards results in capital markets that are unable to fully understand and integrate sustainability considerations, and as a result allocate capital to inefficient and sometimes environmentally or socially damaging activities, projects and assets. Fundamental ESG and alternative data are required to make sustainable investment decisions and to positively contribute to the UN SDGs. The Alliance aims to identify and consolidate the data required now and in the future.