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What will be the future of sustainable finance ? The battle between US and Europe over extra-financial standards explained.

Axel Bonaldo May 14, 2021

Today, all the independent players in extra-financial ratings have gone under the USA banner. Several European financial players are now questioning the sovereignty of extra-financial disclosure standards in Europe.

Especially since this topic of sovereignty has come back to light due to the COVID-19 pandemic which has revealed the fragility of our world economy. If you take under consideration the state of our post COVID-19 recovery, many of us are noticing the same thing: it is urgent that asset managers, companies, regulators, and governments concretely integrate social and environmental implications at the center of their business models, their mission, and their priorities.

It is of paramount importance to learn from the lessons brought about by the current triple crisis. It is no longer time for pledging but for action. To be able to respond to the climate emergency, it is imperative to raise and precise the standards of extra-financial measurement. 

The ones currently adopted has in fact not had any tangible systemic transformation effects. For several years now, responsible finance has evolved rapidly and has demonstrated its dynamism and necessity. The new world must definitely move forward in this direction, and seize this extraordinary opportunity of a “new generation” of responsible finance. One based on transparency, universal extra-financial standards, and rigorous impact measurement to serve as a safeguard against greenwashing and impact washing.

What are the insights of US and European regulators ?

Format

Panel

Meta Themes

  • Climate Action

  • Sustainable Development

  • Stakeholder Economics & Leadership

Themes

Extra-financial disclosure, Standardization, Norms

Purpose and Desired Outcome

The announcement of a collaboration between US & European regulators on extra-financial disclosure standards.

Audiences

  • Allocators (Family Offices, HNW Individuals, Foundations)

  • Asset Managers

  • Corporate & SME

  • Government

  • Intermediaries (Financial Advisers, Investment Bankers)

  • Academia

  • Service Providers

Speakers

  • NameVelina Serafimov
  • TitleChief Impact Officer
  • Organizationimpak
  • StatusConfirmed
  • NameAlain Deckers
  • TitleHead of unit, Corporate reporting, audit and credit rating agencies
  • OrganizationEuropean Commission
  • StatusInvited
  • NameLee White
  • TitleExecutive Director
  • OrganizationIFRS Foundation
  • StatusInvited
  • NameCharlotte Gardes
  • TitleDeputy Head of the Sustainable Finance, Corporate Law, Accounting Standards and Corporate Governance Unit
  • OrganizationFrench Minister of Economy and Finance
  • StatusConfirmed
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