Regulation is increasingly shaping the agenda for environmental, social and governance-focused investors. In many parts of the world, regulators are working to bring clarity to an often-confusing ESG market amid an alphabet soup of different voluntary frameworks.
The European Banking Authority, which oversees EU banks, is one such regulator. Earlier this year, it said it will ask banks to disclose information on climate risks and their plans to address those risks from 2023. For this episode of the ESG Insider podcast, we interviewed Pilar Gutierrez, Head of Reporting and Transparency at the EBA, about the new standards, how they fit with a push for more standardized reporting internationally, and what improvements banks will have to make.
“Many corporates or banks are already providing disclosure reports on nonfinancial information according to the TCFD recommendations,” Pilar tells us. “But when assessing these reports, we still observe growth for improvement in terms of consistency and comparability of the disclosures.”
We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall ([email protected]) and Esther Whieldon ([email protected]).
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