ESG Data Is The Solution – Not The Scapegoat

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The role of data in sustainable finance has always been central. The trend towards sustainable investing is well documented, with assets under management having surged from $30.7 trillion in 2018 to $35.3 trillion in 2020, with over $500 billion flowing into ESG integrated funds in Europe in 2021. This trend is demanding increasing scrutiny to ensure there is a common understanding of what is “green” or “sustainable” or, increasingly, “impact” aligned. In 2020, the Future of Sustainable Data Alliance (FoSDA) was launched to champion issues and knowledge sharing around data for use in sustainable finance. After a deep dive into the part data plays in a sustainable future, FoSDA has issued multiple reports and recommendations to global financial players and regulators on how data can be best used and where there are known data gaps and data holes. However, ESG data is regularly called out as the problem to investing in a sustainable future. Only 1% of companies reporting to CDP (Carbon Disclosure Project) reported on all the 24 key indicators. How can we ensure the data we need doesn’t become the world’s scapegoat for inaction?

Speaker:

Sherry Madera joined Mastercard’s global public policy and government affairs team as Senior Vice President in 2022. She oversees the company’s public policy and government affairs activities in Europe, the Middle East and Africa, Central Asia and China. A Canadian and British national, Madera joined Mastercard from LSEG where she last held the position of Chief Industry & Government Affairs Officer. She was also the Economic Ambassador and Special Advisor to Asia for the City of London. Previously, she was Minister-Counsellor at the British Embassy in Beijing, leading the trade and investment agenda between the UK and China. Madera is instrumental in representing Mastercard with policymakers in key markets around the world. Her experience and track record of leadership roles in sustainable finance, FinTech, Data policy, international trade and geopolitics advance Mastercard’s agenda and efforts, in particular on policy issues related to inclusion, sustainability and ethical data practices. Madera is the Chair of the Future of Sustainable Data Alliance, a global alliance dedicated to working with the financial industry to use data to build a sustainable future. She also sits on the Board of the University of Nottingham and is an Advisor to Hong Kong’s tech hub, Cyberport.