Fitch Group, a global leader in financial information services, has officially launched its ESG Regulations and Reporting Standards Tracker.
The tracker tool will enable comprehensive tracking of key regulatory developments within the ESG landscape. The announcement came from Sustainable Fitch, Fitch Group’s sustainability-focused analytics business, which will be at the forefront of maintaining and updating the tool.
The main objective of this partnership between Fitch Group and Sustainable Fitch is to develop an effective means to keep up with the growing importance of ESG (Environmental, Social, and Governance) regulations and standards, thereby facilitating compliance and enhancing the ability of issuers and investors to align their strategies with sustainability goals.
Fitch Group’s core focus lies in offering credit ratings, commentary, and research. Widely recognised for their expertise in credit and bond markets, they provide essential insights to clients across the globe. On the other hand, Sustainable Fitch specialises in providing data-driven sustainability analytics, highlighting the company’s commitment to integrating sustainability principles in financial services.
The newly introduced ESG Regulations and Reporting Standards Tracker will be an Excel-based database. The database will be maintained and updated on a quarterly basis by the dedicated research team at Sustainable Fitch. The data collection process will involve a broad range of sources, including government statements, media reports, as well as participation in sustainable finance working groups.
Apart from tracking regulatory developments, the tool is designed to monitor reporting frameworks and standards. It is also intended to provide guidance on new regulatory ESG-related issues affecting issuers and investors. As a part of the launch, Sustainable Fitch released a report elucidating the most recent regulatory developments in several jurisdictions, thereby demonstrating the tool’s capabilities and scope.
Sustainable Fitch in its report stated, “ESG regulations have continued to make headways worldwide in 2023, with sustainable taxonomies, mandatory climate disclosures and ESG fund rules rapidly gaining ground.”
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