Warsaw Stock Exchange and EBRD to advance ESG reporting for companies and investors
The European Bank for Reconstruction and Development (EBRD) and Warsaw Stock Exchange (GPW) have partnered to support Polish and CEE listed companies with environmental, social, and governance (ESG) reporting.
The EBRD’s and GPW hope to facilitate engagement with policy makers, regulators and other stakeholders to ensure development of a coherent, robust and transparent framework in compliance with legislation and in line with EU Green Deal for ESG disclosure. It will also provide investors with comparability in terms of monitoring different companies.
“Total assets invested in ESG ETFs and ETPs reached a new record of USD82 billion at the end of May 2020, an increase by 10.4 per cent since the end of April. This investment approach has gone from the peripheral to a new normal for capital markets. Many global investors have realised that sustainable growth and higher returns do not have to be mutually exclusive. Research increasingly demonstrates that incorporating ESG factors enhances investors portfolios’ resilience to market volatility and economic shocks. The Covid-19 pandemic has further accelerated the development of socially responsible investment, particularly in developed capital markets,” says Marek Dietl, CEO at GPW.
For the assignment, following a public tender process, the EBRD will select a consortium of experts or consultants with international and national experience related to sustainable finance, capital markets and ESG-related areas within a public tender. The selected consortium, in cooperation with GPW, will develop a report consisting of guidance materials, capacity building events and recommendations relating to ESG reporting under national and EU legislation related to ESG integration and decarbonisation and good market practices. Interested consultants can submit their technical and financial proposals to the EBRD until 17 July, 5pm (London time) by responding to the procurement notice.
“Environmentally sound and sustainable development is central to the EBRD’s mandate, underpinned in each project by the Bank’s Environmental and Social Policy. EBRD has been supporting sustainable finance in Poland and its other countries of operations for the past 29 years. Our impact is achieved through combining investment, policy dialogue and technical assistance. Last year, 62 per cent of our business in Poland was invested in the transition to green economy. Companies’ transparency and consistency of ESG disclosure is essential to creating modern capital markets and financing the green transition. By working together with the Warsaw Stock Exchange, the EBRD will support integration of ESG reporting and the development of sustainable capital markets aligning with EU regulations and investors’ demand,” adds Grzegorz Zielinski, director, regional head of Central Europe and the Baltics, EBRD.