Posted on 17 December 2021
PERE ESG Report: Setting the Pace on ESG Standards
Without clear guidance from political and regulatory authorities, the private sector is developing and implementing an array of diverse ESG frameworks. In PERE’s ESG Report, Antonis Anastasiou, Director and Member of Alter Domus’ ESG Committee, examines the challenges the emergence of unharmonized ESG standards and metrics is producing.
As key government and financial authorities struggle to produce a standard on ESG evaluation mythologies, private businesses are stepping in and filling the gap by developing their own ESG frameworks. Antonis explains that while this is leading to the development of an array of innovative reporting frameworks, it is adding new layers of obscurity to ESG as the benchmarks and standards used in these various structures are inconsistent and even conflicting. He underlines that government and regulatory authorities must use their leverage to form an industry consensus on ESG variables and implement a standardized framework to unlock the true potential of ESG.
“At the end of the day, multicorporate global organizations need to focus on ESG on a cross-border basis, in all of the geographical regions where they have a presence,” explains Antonis.
Access the report here (Antonis’ article can be found on page 37).