Finance guide could spur extra $200 billion for sustainable development, JPMorgan says
Impact disclosure guidance released by Taskforce
Group chaired by JPMorgan, Natixis
Aims to help countries, companies raise impact finance
By Karin Strohecker and Simon Jessop
WASHINGTON, Oct 23 (Reuters) -A new guide for countries and companies seeking financing for activities that have a positive and verifiable social or environmental impact could unlock an extra $200 billion a year for sustainable development, a JPMorgan JPM.N executive told Reuters.
The voluntary guidance issued on Wednesday by the finance-sector-led Impact Disclosure Taskforce seeks to address an estimated $4.2-trillion-a-year financing gap for the United Nations' sustainable development goals.
Some ESG forms of financing, such as green or sustainability-linked bonds or loans, have had market-driven classifications for some time. However, there is no common rulebook for assessing lending aimed at creating a positive social or environmental impact.
Many issuers have struggled to attract investors because of a lack of quality data, targets and reporting on impacts.
The new guidance has a five-step process, including assessing the issuer's strategy to ensure that its products, services and operations target a country's most acute needs.
Issuers must also describe the impact they hope to achieve and how they expect to get there, establish targets to measure the impact and report on them.
"It creates a market and an industry consensus of how development impact should be measured and disclosed," said Arsalan Mahtafar, head of the development finance institution team at JPMorgan, the largest U.S. bank.
Based on the bank's footprint and its development finance target, the projects expected to be made available to impact investors would be worth over $200 billion a year, Mahtafar added.
Timothee Jaulin, head of ESG development at asset manager Amundi, a member of Taskforce, said the guidance would make it easier for investors to assess countries' sustainability criteria.
Co-chaired by JPMorgan and French lender Natixis, Taskforce's more than 50 members also include the Asian Development Bank, HSBC, Korea Eximbank, Morningstar Sustainalytics, Linklaters and Standard Chartered.
The guidance's release coincides with a meeting of the World Bank and International Monetary Fund in Washington to discuss how to free up more finance to help countries meet challenges including climate change.
It also precedes global climate talks in Azerbaijan in November where developing countries are pushing for a more ambitious annual climate-finance target.
Editing by Rod Nickel
Aset Berkaitan
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
