Latest News – June 27, 2024: IFC signs partnership with IFRS

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.

View the Presentation Video

Elli Siapkidou

Dr. Elli Siapkidou

Financial System Research Lead, World Benchmarking Alliance (WBA)

Download Presentation

Anthony Miller

Dr. Anthony Miller

Coordinator, United Nations Sustainable Stock Exchanges Initiative (SSE)

B Buck

Bastian Buckz

Chief of Standards,
Global Reporting Initiative (GRI)

R Germanova

Ralitza Germanova

Sustainability and Climate Disclosure and Transparency Lead and Corporate Governance Officer, IFC

Working Group Co-Chairs

Salome Tvalodze

Ms. Salome Tvalodze

Head of Macrofinancial Modeling and Analysis Division, Financial Stability Department, National Bank of Georgia

Yi Yanfei

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.

You can also search keywords in each table by using the search box.

Asia & PacificBangladeshBangladesh Bank
Asia & PacificCambodiaThe Association of Banks in Cambodia
Asia & PacificChinaChina Banking and Insurance Regulatory Commission (co-chair)
Asia & PacificFijiReserve Bank of Fiji (RBF)
Asia & PacificMongoliaBank of Mongolia
Asia & PacificMongoliaMongolian Sustainable Finance Association (MSFA)
Asia & PacificPhilippinesBangko Sentral ng Pilipinas
Asia & PacificSri LankaCentral Bank of Sri Lanka
Asia & PacificViet NamState Bank of Viet Nam
Eastern Europe and Central AsiaArmeniaCentral Bank of Armenia
Eastern Europe and Central AsiaGeorgiaNational Bank of Georgia (co-chair)
Eastern Europe and Central AsiaKyrgyz RepublicThe Union of Banks of Kyrgyzstan
Eastern Europe and Central AsiaTunisiaCentral Bank of Tunisia
Eastern Europe and Central AsiaTurkeyBanking Regulation and Supervision Agency of Turkey (BRSA)
Eastern Europe and Central AsiaUkraineNational Securities and Stock Market Commission of Ukraine
Latin America the CaribbeanBrazilFEBRABAN
Latin America the CaribbeanColombiaAsobancaria
Latin America the CaribbeanColombiaSuperintendencia Financiera de Colombia
Latin America the CaribbeanCosta RicaCosta Rica´s General Superintendence of Financial Institutions
Latin America the CaribbeanHondurasNational Commission of Banks and Insurance (CNBS)
Latin America the CaribbeanParaguayCENTRAL BANK OF PARAGUAY
Latin America the CaribbeanParaguayMesa de Finanzas Sostenibles del Paraguay
Latin America the CaribbeanRegional, LACFELABAN (Federation of Latin American Banks)
Latin America the CaribbeanRegonal, Eastern Caribbean Eastern Caribbean Central Bank
Middle East & AfricaEgyptCentral Bank of Egypt
Middle East & AfricaGhanaBank of Ghana
Middle East & AfricaGhanaGhana Association of Banks
Middle East & AfricaIraqCentral Bank of Iraq
Middle East & AfricaMoroccoAutorité Marocaine du Marché des Capitaux (AMMC)
Middle East & AfricaNigeriaCentral Bank of Nigeria
Middle East & AfricaRegional, Central AfricaCOSUMAF
Middle East & AfricaSouth AfricaThe Banking Association South Africa
GlobalIFC/World Bank
GlobalWorld Benchmarking Alliance
GlobalUN Sustainable Stock Exchanges Initiative
GlobalGlobal Reporting Initiative
GlobalInternational Sustainability Standards Board (tbc)
GlobalInternational Platform on Sustainable Finance / European Commission (tbc)