Filling the ESG data gap: Corporate reporting and beyond
The European Commission is currently exploring different measures that will aim to fill ESG data gap and allow for better implementation and use of sustainable finance tools currently being developed. The upcoming review of the Non-Financial Reporting Directive (NFRD) will play an important part with this regard.
The Commission is currently preparing a legislative proposal on the reviewed NFRD, which is expected to be announced at the end of January 2021. One of the main issues the Commission will address with its proposal in on the content and digitalisation of non-financial information. The Commission will likely propose developing a new reporting standard. European Financial Reporting Advisory Group (EFRAG) has already started with preparatory work for this in case an agreement is found that such standards should be developed.
As part of the CMU action plan and EU Digital Strategy, the Commission will also likely propose measures on tagging information in accordance to an IT taxonomy which will be developed. This will allow reports to be accessible in machine readable format. The aim is to have a single access point to all corporate information, not distinguishing financial and non-financial information, while keeping the reporting as simple as possible for the preparers.
This webinar will look at ESG data gaps and discuss the best ways to address them through corporate reporting and other tools that are currently being developed by the market.
The speakers will explore different measures and instruments that could improve data availability, such as the proposal for a single access point for corporate data and access to data, as well as the link to corporate governance practices. The panelists will touch upon the main issues and possible policy solutions that would work best in practice and support a wide use of the sustainable finance tools.
- Webinar link: https://zoom.us/j/92560510653
Speakers
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Alain DeckersHead of Unit, Corporate reporting, Audit and Credit Rating Agencies, European CommissionAlain Deckers has over 20 years of experience in public service at the European Commission. He has been responsible for policy reviews and policy development in areas including trade in goods, environmental policy, public procurement and financial services regulation.
He currently heads a team of responsible for corporate reporting, including both financial and non-financial reporting; audit; and credit rating agencies as part of DG Financial Stability, Financial Services and Capital Markets Union. He is also the Vice-Chairman of the European Lab@EFRAG Steering Group.
Alain graduated in physics and holds a masters in the economics of technical change, both from the University of Manchester (UK). -
Jasmine AroraHead of Capital Markets, Google CloudJasmine Arora leads Capital Markets for Google Cloud. She has 24 years experience in the Financial Services sector having worked in Capital Markets, Asset and Wealth Management at Goldman Sachs, Morgan Stanley, UBS. Before joining Google she was Global Head of Customer Success for the Index business owned by Deutsche Boerse. She has also been an entrepreneur for 10 years having built a successful consulting business advising firms ranging from FTSE 100 to fintech start-ups. She is passionate about Sustainable Finance and Climate Change and believes we solve this problem in large part with the help of technology.
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Kevin Bourne
Managing Director and Head of Sustainable Finance, IHS Markit
Kevin BourneManaging Director and Head of Sustainable Finance, IHS Markit -
Martina N. MacphersonSenior Vice President, Strategic ESG Engagement & Partnerships, Moody’sMartina Macpherson is Senior Vice President, Strategic ESG Engagement & Partnerships, at Moody’s, and President of the Network for Sustainable Financial Markets. Martina has held a number of ESG and innovation leadership roles including Head of ESG Index Products at S&P DJI, Managing Director of Sustainable Investments Partners Ltd. and Vice President of ESG Solutions at MSCI.
She has been working in the ESG, index and asset management industry for almost 20 years and has been a member of multiple sustainable finance associations and policy working groups at UK, EU and at an international level.
Currently, Martina is part of the UNGC SDG CFO Taskforce, the European Law Institute’s Sustainable Finance Working Group, CBI’s Transition Bond Technical Expert Group, and Enterprise Data Management’s Working Group on ESG Data, Innovation, Technology and Metrics. She co-authored “The AI Book” (2020).
Martina is a visiting fellow in sustainable finance at University of Zurich and Henley Business School. She has an MBA certificate in finance and business from LSBF / UK, and a MA in Law and Human Sciences from University of Frankfurt in Germany. She is a doctoral fellow of the Institute of Certified Risk Management Professionals UK, a fellow member of the ICRS, and an alumni of the German National Academic Foundation.
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Nadja PicardPartner, PricewaterhouseCoopers GmbHNadja Picard is a German CPA and tax advisor and is PwC’s Global Head of Reporting. In that capacity, she drives the PwC’s future and current service offerings and thought leadership to enhance corporate reporting of PwCs clients beyond financial reporting.
She also co-leads PwCs International IPO Centre. Her extensive experience in advising companies seeking access to capital markets in Germany, Europe, the USA or Asia through public offerings or private placements started with a 3 year stay in San Jose, CA USA. Nadja started her career in 1993 with auditing German and US listed companies for many years.
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Patrick de CambourgPresident of the Autorité des normes comptables, Chair of the Project Task Force on preparatory work for the elaboration of possible EU non-financial reporting standards, EFRAGPatrick de Cambourg, a graduate from Sciences Po Paris, also holds degrees in public and business law and is bachelor in Arts.
As chartered accountant and auditor, he has spent his entire career within the Mazars Group, successively as junior, manager, and partner. He became President of Mazars in 1983. In 1995, he was appointed Chairman of the Management Board of the newly created international partnership, and in 2012 he became Chairman of the Supervisory Board. Since late 2014, he has been Honorary President of the Mazars Group.
Since March 2015, Patrick de Cambourg has been President of the Autorité des normes comptables (ANC), the French accounting standard setter. As such, he is also a member of the Board of the Autorité des marchés financiers (AMF), the Board of the Autorité de contrôle prudentiel et de Résolution (ACPR), the Board of the CNOCP, the consultative body for public accounting standards and the EFRAG Board, and member of the Haut Conseil de Stabilité Financière.
Since the beginning of September 2020 Patrick de Cambourg chairs the Project Task Force on Preparatory Work for the Elaboration of possible EU Non-financial Reporting Standards established by EFRAG following the mandate EVP Dombrovskis gave to EFRAG.