The British Standards Institution (BSI) has released a new Sustainable Finance Standard, BS ISO 32210:2022, aimed at promoting credible targets and plans for environmental, social, and corporate governance (ESG) performance. The standard is globally applicable and is designed to help financial institutions avoid greenwashing by promoting credible ESG plans.
This new guide is particularly relevant for direct lenders, investors, asset managers, and service providers looking to incorporate sustainability across their operations, activities, products, and services. It seeks to address the lack of clarity surrounding sustainable finance by improving collaboration and standard approaches to green finance.
It also calls for greater transparency from ESG data and ratings agencies, which could impact businesses that rely on these agencies for ESG data and analysis.
Do you think it will create greater transparency and standardisation in the ESG sector? How could it be applied to ensure an organisation aligns with the principles outlined in the standard? Let's start a conversation and share our thoughts on this important development in sustainable finance.