13


PLANET FINANCE T


he UK is a global leader in green finance so it’s fitting that BSI should be the first national standards body (NSB) to take on the challenge of writing standards


for sustainable finance with a sustainable finance standards development programme starting in 2019. There is growing acknowledgment on the part of governments and the finance industry around the world that the parameters for how the investment decisions that drive our economies are made are too narrow. Where there is a wider definition of value included in investment decision-making which takes into account environmental, social and governance (ESG) issues, the outcomes are likely to be better for the planet and the people that live on it. Which is where sustainable finance has a key role to play.


The UN has set out 17 sustainable


development goals, the areas in which sustainable finance seeks to make a difference (see panel right) and BSI is aiming to develop standards that enable organizations to align with, and work toward, those goals. There is a growing number of financial


products and services out there that claim to be sustainable, but as yet no global standards that cover sustainable finance in its totality and provide assurance of the sustainability credentials of such products and services. “A robust set of sustainable finance


standards will increase business confidence and understanding of sustainable


LIFE BELOW WATER


The UN Sustainable Development Goals


The UN has developed a set of sustainable development goals which it sees as a blueprint to achieve a better and more sustainable future for all. The work of BSI on sustainable finance in the UK and within the newly established ISO Technical Committee 322 will help organizations from across the financial sector align their strategies, activities, products and services with these goals:


NO


DECENT WORK AND ECONOMIC GROWTH


GOOD HEALTH & WELL BEING


CLEAN WATER & SANITATION


RESPONSIBLE PRODUCTION AND CONSUMPTION


POVERTY


QUALITY EDUCATION


LIFE ON LAND


PEACE


JUSTICE AND STRONG


INSTITUTIONS


CLIMATE ACTION


INDUSTRY INNOVATION AND INFRASTRUCTURE


SUSTAINABLE CITIES AND COMMUNITIES


AFFORDABLE & CLEAN ENERGY


GENDER EQUALITY


ZERO HUNGER


REDUCED INEQUALITIES


PARTNERSHIPS FOR THE GOALS


investments and related activities,” said Maria Varbeva-Daley, Market Development Manager, Sustainability & Energy. “Standards can also help accelerate understanding, and therefore, the growth of sustainable finance, and provide reliable mechanisms for mobilising finance globally to address pressing social, environmental and economic issues.”


Maria Varbeva Daley


These new standards will provide businesses and financial institutions with a clear framework for ensuring their strategies, products, services and processes are aligned with the transition towards cleaner, more sustainable economic growth. Nick Fleming, Head of Market


Development, added, “The impact of


this work is to increase confidence in sustainable investments such as funds, but also in how financial organizations, including investment managers, are integrating sustainability factors into their decision-making. This will help drive confidence and transparency and ultimately, the level of investment going into sustainable projects.”


CONTENTS


CONTACT THE TEAM


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20