Data and Disclosure Working Group
About This Working Group
The Data and Disclosure Working Group responds to the current global need for improved data and disclosure by the financial sector to support national sustainable finance ecosystems and enable regulators and supervisory agencies to better assess and manage environmental, social, and governance (ESG) risks and performance at the market and institution level.
Credible data can also support efforts to direct capital to sectors and businesses that have a positive impact on the environment and society, thereby helping to achieve national sustainable development objectives.
The Working Group will map the latest country-level developments in sustainable finance data and disclosure across the SBFN community and by international initiatives to facilitate the continued development of tools and practical guidance for SBFN members.
The working group is currently chaired by China Banking and Insurance Regulatory Commission and National Bank of Georgia.
In their efforts to promote sustainable finance practices across the financial sector — including banking, insurance, pension funds, and capital markets — a consistent gap identified by SBFN members is the lack of adequate, minimum reporting and data related to ESG risk and opportunities, climate risk management, and capital flows to investments and projects that have positive environmental and social benefits.
Improved data and disclosure are required to support analysis by regulators regarding the impact of ESG risks on financial stability – including risks posed by climate change – and alignment of the activities of financial institutions (FIs) with national development priorities.
FIs in turn are faced with a growing variety of ESG and climate reporting frameworks at global and national levels and pressure from stakeholders to increase their transparency about portfolio and project-level risks and sustainability performance.
In the context, SBFN’s 2021 Global Progress Report recommended:
- For SBFN Members to “Strengthen and align data and disclosure requirements for all parts of the sustainable finance ecosystem, particularly through collaboration between regulatory agencies”, and
- For the SBFN Secretariat to “Convene the Data and Disclosure Working Group to map the work being done across the Network on reporting frameworks, disclosure requirements, monitoring, and data sharing for sustainable finance, and identify common tools and principles to support members.”
Working Group Meetings
In March 2022, the working group hosted its first meeting. Over 70 participants joined the two-hour virtual discussion, representing SBFN members and partner organizations.
The Working Group Co-Chairs — China Banking and Insurance Regulatory Commission (CBIRC) and National Bank of Georgia — provided in-depth presentations. Other country updates were provided by Morocco’s Capital Market Authority (AMMC), Central Bank of Nigeria, the Financial Superintendency of Colombia, and the Johannesburg Stock Exchange, which IFC is currently supporting to develop cutting-edge climate and ESG disclosure guidance for South African listed companies.
The meeting also included perspectives from a panel of experts active in key global initiatives to support sustainability reporting, disclosure, and benchmarking focused on financial institutions and the private sector more broadly.
Dr. Elli Siapkidou
Financial System Research Lead, World Benchmarking Alliance (WBA)
Dr. Anthony Miller
Coordinator, United Nations Sustainable Stock Exchanges Initiative (SSE)
Bastian Buckz
Chief of Standards,
Global Reporting Initiative (GRI)
Ralitza Germanova
(Moderator)
Sustainability and Climate Disclosure and Transparency Lead and Corporate Governance Officer, IFC
Working Group Co-Chairs
Ms. Salome Tvalodze
Head of Macrofinancial Modeling and Analysis Division, Financial Stability Department, National Bank of Georgia
Mr. Ye Yanfei
Senior Advisor of the Policy Research Bureau, China Banking and Insurance Regulatory Commission (CBIRC)
Working Group Members
Click on the green bar below to search the table of contributing members and organisations.
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| Region | Country | Organization |
|---|---|---|
| Asia & Pacific | Bangladesh | Bangladesh Bank |
| Asia & Pacific | Cambodia | The Association of Banks in Cambodia |
| Asia & Pacific | China | China Banking and Insurance Regulatory Commission (co-chair) |
| Asia & Pacific | Fiji | Reserve Bank of Fiji (RBF) |
| Asia & Pacific | Mongolia | Bank of Mongolia |
| Asia & Pacific | Mongolia | Mongolian Sustainable Finance Association (MSFA) |
| Asia & Pacific | Philippines | Bangko Sentral ng Pilipinas |
| Asia & Pacific | Sri Lanka | Central Bank of Sri Lanka |
| Asia & Pacific | Viet Nam | State Bank of Viet Nam |
| Eastern Europe and Central Asia | Armenia | Central Bank of Armenia |
| Eastern Europe and Central Asia | Georgia | National Bank of Georgia (co-chair) |
| Eastern Europe and Central Asia | Kyrgyz Republic | The Union of Banks of Kyrgyzstan |
| Eastern Europe and Central Asia | Tunisia | Central Bank of Tunisia |
| Eastern Europe and Central Asia | Turkey | Banking Regulation and Supervision Agency of Turkey (BRSA) |
| Eastern Europe and Central Asia | Ukraine | National Securities and Stock Market Commission of Ukraine |
| Latin America the Caribbean | Brazil | FEBRABAN |
| Latin America the Caribbean | Colombia | Asobancaria |
| Latin America the Caribbean | Colombia | Superintendencia Financiera de Colombia |
| Latin America the Caribbean | Costa Rica | Costa Rica´s General Superintendence of Financial Institutions |
| Latin America the Caribbean | Honduras | National Commission of Banks and Insurance (CNBS) |
| Latin America the Caribbean | Paraguay | CENTRAL BANK OF PARAGUAY |
| Latin America the Caribbean | Paraguay | Mesa de Finanzas Sostenibles del Paraguay |
| Latin America the Caribbean | Regional, LAC | FELABAN (Federation of Latin American Banks) |
| Latin America the Caribbean | Regonal, Eastern Caribbean | Eastern Caribbean Central Bank |
| Middle East & Africa | Egypt | Central Bank of Egypt |
| Middle East & Africa | Ghana | Bank of Ghana |
| Middle East & Africa | Ghana | Ghana Association of Banks |
| Middle East & Africa | Iraq | Central Bank of Iraq |
| Middle East & Africa | Morocco | Autorité Marocaine du Marché des Capitaux (AMMC) |
| Middle East & Africa | Nigeria | Central Bank of Nigeria |
| Middle East & Africa | Regional, Central Africa | COSUMAF |
| Middle East & Africa | South Africa | The Banking Association South Africa |
| Global | – | IFC/World Bank |
| Global | – | World Benchmarking Alliance |
| Global | – | UN Sustainable Stock Exchanges Initiative |
| Global | – | Global Reporting Initiative |
| Global | – | International Sustainability Standards Board (tbc) |
| Global | – | International Platform on Sustainable Finance / European Commission (tbc) |