The Future of Sustainable Data Alliance (FoSDA) creates the Data Council, with data providers leaders such as Refinitiv, S&P Global and Moody’s ESG solutions group to bring more consistency to ESG data.
At a time when sustainability and the digital transformation of our economies are the two highest priorities of governments and businesses across the world, it is of utmost importance to create synergies between them where possible.
With this objective, the Future of Sustainable Data Alliance (FoSDA) launched last week, the Data Council which will turbo-charge the FoSDA workstreams and convene global data expertise – bringing together data providers leaders such as Refinitiv, S&P Global and Moody’s ESG Solutions Group, and looking to adding new members rapidly.
FoSDA brings global partners together to seek to identify and accelerate the reliable, actionable ESG data and related technology that is needed to meet the Paris Agreement and UN Sustainable Development Goals. Its founding partners include the World Economic Forum, IIF, OMFIF, Tsinghua University, ASIFMA, GFMA, Climate Bonds Initiative, FinTech4Good, Everledger, Institute of Public and Environmental Affairs, Bank of Africa-BCME, Finance for Biodiversity, GoImpact, Icebreaker One, and Bloomberg since January 2021.
The FoSDA Data Council will seek to act as a much-needed industry and regulator sounding board focused on data needed for sustainable finance. This group of market data experts will serve to add realistic insight into the exploding volumes of data being used and demanded to deploy capital sustainably and will help chart a path forward with increasing efficiency and transparency.
Data is critically needed by investors and governments to achieve global sustainability goals. This is at the very heart of FoSDA’s and its Data Council’s actions.
The Council will help address critical questions in relation to the role, the indications, and the learnings we can glean from data to inform sustainable policy, investments, and business decisions. The Council’s members will in particular look to tackle the question of what datasets are needed to meet the requirements of regulators, citizens, and the market now and in the future.
“As the market for sustainable investing and financing grows, the demands on useable decision ready data are also increasing. Establishing clarity on how to shape the maturing requirements for investment-grade data to support financial markets and regulatory policy is not a small task, but this forum brings together a wealth of experience and market understanding of the challenges and opportunities that data can enable in the effort to meet global sustainability goals.”Leon Saunders Calvert, Head of Research & Portfolio Management at LSEG, previously Head of Sustainable Investing for Refinitiv (now an LSEG business).
By bringing the industry players together FoSDA hopes to deliver invaluable market insight to global regulators. The alliance is inviting other data providers to join its Data Council to work through market problems and solutions related to sustainability data, and certain members such as Refinitiv, Moody’s ESG Solutions Group and S&P Global are already in conversation with fellow data providers and invite others to get in touch.
“ESG data is increasingly being integrated into financial decision-making but more work is required in order to ensure there are clear definitions and standards and that data gaps are identified and addressed.”Dr Richard Mattison, CEO of S&P Global Trucost and Chief Product Officer ESG, S&P Global
Article: Joana Foglia – Source: FoSDA