A consortium of leading financial institutions and industry stakeholders have announced the formation of the Impact Disclosure Taskforce.
The consortium includes Amundi, AXA Investment Managers, Bank of America amongst a range of others.
This initiative aims to establish voluntary guidelines to support corporate entities and sovereigns in enhancing their contributions towards achieving the United Nations Sustainable Development Goals (SDGs).
The primary objective of this partnership is to provide a framework for measuring and disclosing efforts in reducing the significant gaps in achieving the SDGs by 2030. The Taskforce acknowledges the urgent need for increased investment, particularly in emerging markets and developing economies (EMDEs), which is crucial for attaining these global objectives.
Each participating company brings a unique expertise to the table. For instance, Amundi focuses on mobilizing private investment for impact-driven solutions, while AXA Investment Managers excel in integrating sustainability into investment strategies. Bank of America’s role is pivotal in channeling investments towards sustainable development. Their collective efforts are geared towards setting targets and reporting mechanisms that align with the SDGs, particularly in jurisdictions facing the largest developmental challenges.
The Taskforce’s approach includes drawing upon existing resources to help entities set relevant targets and monitor progress. It emphasizes transparency and accountability, making balance sheets more attractive to sustainable financiers. While the guidance is universal, it primarily addresses the needs of entities in economies with the most significant SDG gaps.
Notably, the Taskforce also includes input from public development banks such as the Asian Development Bank (ADB) and the United States International Development Finance Corporation (DFC), ensuring a comprehensive and inclusive approach. A concept note detailing the Taskforce’s objectives is available, with the full guidance set for public consultation in April 2024.
Caroline Le Meaux, Global Head of ESG Research, Engagement and Voting at Amundi, emphasized the critical need for the financial sector’s support in advising corporate and sovereign entities.
Maria Teresa Zappia of BlueOrchard highlighted the impact of enhanced disclosure on broadening investment universes. Robert Simpson from Pictet Asset Management, Arsalan Mahtafar of J.P. Morgan, Cedric Merle from Natixis Corporate & Investment Banking, and Thomas Eveson of Sustainalytics each underscored the importance of their respective roles in this initiative.
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