The All-Party Parliamentary Group (APPG) on ESG, the UK’s cross-party group dedicated to sustainable finance, has urged the government to take a joined up approach to its ESG strategy or risk falling behind the EU. The APPG has told the government that it must harmonise existing ESG policies and strategies, including the Green Finance Strategy, Sustainability Disclosure Requirements and UK Green Taxonomy, among others. The APPG will develop proposals for a larger cohort of ESG professionals to operate across the country to counter the risk of “ESG Cowboys”. It also recommends a sector-by-sector assessment of what counts as material to ESG, combined with a major assessment of ESG frameworks, metrics and underlying data to identify pathways to standardising as much as possible. The APPG also calls on the government to launch an ESG data consultation. Alexander Stafford MP, Chairman of the APPG on ESG, said: “We need to fill significant gaps in the UK’s ESG policy infrastructure. We won’t achieve that without better informed and more robust debate in Parliament, which is why the APPG is releasing this report. I want my colleagues on all sides in both Houses to learn about ESG, and how we can maximise its potential to deliver on policy objectives and create value for businesses of all sizes across all sectors.”
The APPG has published a report today calling for an #ESG strategy to join up policies and thinking. The strategy would address challenges faced by businesses, particularly SMEs, in disclosing ESG information and accessing accurate, comparable data.
— ESG APPG (@ESG_APPG) April 25, 2023