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Backed by major financial institutions, Impact Disclosure Taskforce launches draft impact disclosure guidance

Jovi Ho
·2-min read

Established in April 2023, the Taskforce is now backed by more than 60 financial institutions, including Bank of America and Citi.

The one-year-old Impact Disclosure Taskforce has released its draft impact disclosure guidance, which aims to help entities committed to addressing development needs and reducing global inequality to access growing pools of sustainable capital.

As of April 18, the Taskforce is now running a four-month public consultation till Sept 1.

Established in April 2023, the Taskforce is now backed by more than 60 financial institutions, capital markets participants and industry stakeholders. They include Bank of America, Citi and Standard Chartered.

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The Taskforce was formed to help corporate entities and sovereigns measure and disclose their efforts to reduce major gaps to achieving the United Nations Sustainable Development Goals (SDGs).

When complete, the voluntary guidance aims to help corporate and sovereign entities, particularly those in emerging markets, to use the principles of impact measurement and monitoring to attract sustainable pools of capital.

The guidance also aims to establish mechanisms for disseminating and analysing disclosed impact information to promote transparency and accountability.

According to the Taskforce, the creation of a Sustainable Development Impact Disclosure (SDID) could provide sustainable financiers with more information to assist financing decisions.

The guidance outlines a five-step process for entities to measure and disclose the impacts of their business strategies or national development plans.

JP Morgan and Natixis Corporate and Investment Banking, the Taskforce co-chairs, supported DP World, a leading global logistics and supply chain solutions provider, in creating the pilot SDID under the guidance.

According to the Taskforce, the pilot SDID focuses on DP World’s anticipated contributions to SDGs focused on health, education, equality and economic growth through emerging markets infrastructure.

Arsalan Mahtafar, co-chair of the Impact Disclosure Taskforce and head of JP Morgan’s Development Finance Institution, says the guidance will help connect sustainable investors with entities that are accountable to tackling the development challenges in their countries. “By connecting like-minded people and empowering them with relevant data, we can make strides towards achieving our global goals.”

Cédric Merle Hamon and Leisa Cardoso De Souza, co-chairs of the Impact Disclosure Taskforce, from the Center of Expertise and Innovation within Natixis Corporate and Investment Banking’s Green and Sustainable Hub, say: “We are thrilled about the launch of the consultation period and crave for thoughtful feedback. Our endeavour is to harness market signals to sustainability data, providing enhanced financial terms to SDG contributing entities, and creating meaningful investing opportunities.”

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