The Association for Financial Markets in Europe (AFME) has launched a report highlighting the need for financial institutions to have access to consistent non-financial reporting from corporates to be able to support the transition to a low-carbon economy.
The European ESG Disclosure Landscape for Banks and Capital Markets report, written in partnership with Latham & Watkins, maps the complex ESG reporting landscape for financial institutions. It calls on policymakers and regulators to build a coherent framework to support sustainable finance by:
- prioritising the availability of high-quality data from non-financial corporates;
- providing clarity, avoiding inconsistencies and duplication between reporting requirements for financial institutions, and;
- taking into account the global nature of financial institutions.