Leading financial institutions launch ESG Book

Georg Kell, Chairman of Arabesque.

A global alliance of leading financial institutions, investors and businesses have launched  the ESG Book, a new central source for accessible and digital corporate sustainability information.

The alliance includes the International Finance Corporation, UNCTAD, Global Reporting Initiative, Bridgewater Associates, Swiss Re, HSBC, Deutsche Bank, HKEX, Allianz, Glass Lewis, Cardano Development, QUICK, Bank Islam, Goldbeck, Werte Stiftung, WBCSD, Climate Leadership Coalition, Climate Governance Initiative, Climate Policy Initiative, Climate Bonds Initiative, Responsible Jewellery Council, GeSI, and Arabesque.

The ESG Book, which was developed by Arabesque and supports the ten principles of the UN Global Compact, intends to makes sustainability data more widely available and comparable for all stakeholders.

In addition, it, enables companies to be custodians of their own data through a digital platform plus provides framework-neutral ESG information in real-time.

Currently, over $100 trillion of assets under management are committed to the UN Principles of Responsible Investment while many of the world’s largest public companies have pledged to meet net-zero targets, as sustainability shapes global markets in the 21st century.

The platform’s announcement comes on the heels of the European Commission tabling proposals for a central portal for corporate data in connection with its sustainable finance agenda, as well as the IFRS Foundation’s decision to create a sustainability standard-setting board.

“The launch of ESG Book marks the evolution of corporate sustainability. It enables more comparable and higher quality ESG data, thereby advancing the mission of making markets more sustainable, “ says Georg Kell, Chairman of Arabesque. Through a technology-driven approach, Arabesque is committed to making ESG data available to all as a public good.”

Dr Celine Herweijer, Group Chief Sustainability Officer, HSBC, said, “Institutions and investors need access to reliable and comparable sustainability data, in order to mobilise finance for the biggest enablers of the transition to net zero. Digitalising, streamlining and aligning that information, as ESG Book aims to do, will help banks to navigate the sustainability data landscape and optimise our customers’ transition journeys.”

©Markets Media Europe 2021

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