Daily ESG Briefing: GIIN calls for feedback on a new impact reporting framework

The Global Impact Investing Network has launched a consultation on its Methodology for Standardising and Comparing Impact Performance. The methodology seeks to promote rigorous impact reporting, and enable comparison between different entities. Feedback will be sought, and the proposals peer reviewed, between now and January; after which point a final methodology will be prepared.

Robeco has won a mandate from South Africa’s Sanlam Investments, to become its “sustainable investment partner”. The Dutch-based firm, which RI recently revealed would absorb its dedicated sustainability subsidiary, Robeco SAM, into its main operation, will support Sanlam on ESG reporting and engagement, among other activities. 

Los Angeles Council could become the latest city to back the creation of a Fossil Fuel Non-Proliferation Treaty – a concept being pushed by sustainability heavyweights including Carbon Tracker founder Mark Campanale, which aims to stop the expansion of oil, gas, and coal while increasing international cooperation to advance an equitable transition to clean energy and low-carbon solutions. If approved, a motion brought by council member Paul Koretz, would see LA join New York City as the biggest cities to support the Treaty. 

Almost half the companies included in this year’s Global Coal Exit List are expanding their operations, with 437 of the 935-coal producing and/or coal associated companies featured in the database planning new projects. The latest list, created by Urgewald and 30 partner NGOs, also found less than 25 of the companies have adopted a coal phase-out date. Over 400 financial institutions are now registered users of the database and investors representing over $14trn in assets are using one or more of the GCEL’s three divestment criteria to exclude coal companies from their portfolios.

The European Investment Bank has adopted its 2021-2025 Climate Bank Roadmap, which outlines how it will “support” €1trn of green investment by 2030 and ensure all of its financing activities are aligned with the Paris Agreement. Within the Roadmap, the role of the private sector is stressed, with the EIB committing to support coordinated European actions aiming to mobilise greater private sector investment and engagement.

Approximately 30% of the 300 companies assessed by the Alliance for Corporate Transparency provide sufficient information on their climate policies and risks. The companies are all in Central, Eastern and Southern Europe. As the EU gears up for the Non Financial Reporting Directive to be overhauled in 2021, the Alliance advocates that policymakers need to address the gaps identified and provide direction and certainty to companies.

Sustainalytics has launched its Impact Metrics, which it says will allow investors to systematically monitor, measure and report on the social and environmental impacts of their portfolios. The ESG research and ratings house has based the tool on its new Impact Framework, which covers six impact themes that correspond to one or more of the SDGs.

The OECD and the UN Development Program (UNDP) have developed a programme to help public and private actors identify investments that contribute to the SDGs. The Framework for the Alignment of Finance to the SDGs was endorsed by 450 development banks at the recent Finance en Commun summit. It will be updated by the OECD and UNDP through ongoing dialogue at international economic and financial forums.