The ESG Executive Committee will develop understanding, engage with regulators, and the Social Impact of Investing Taskforce and look to implementation plans and industry guidance for ESG (Environment, Social and Governance).
Jeffrey Mushens, Technical Policy Director leads on this work at TISA.
Areas of focus
The ESG Executive Committee
has the following objectives:
To produce TISA Guides for ESG Implementation and Data Templates addressing firms reporting and regulatory requirements and obligations for asset managers, wealth managers and distributors.
To produce customer-facing documentation incorporating meeting firms’ disclosure requirements.
outputs already achieved
The Partners Working Group ensured that all appropriate bodies (trade associations and relevant bodies working in this area,such as Corporation of London, Green Finance Institute, Impact Investing Institute, UNPRI, International Capital Markets Association, UKSIF, British Standards Institute, etc) have been included either as part of process, consulted or informed, so that the Guides meet the needs of the firms and their customers.
The Glossary/Definitions Working Group supported the IA in producing a common glossary of definitions to be used in the Guides.
The Legal Timelines Working Group established an agreed timeline for introduction of legislation/regulation and implementation. This will be updated as new consultations and legislation is announced, covering EU and UK.
outputs still to be achieved
Good Practice Guide – Building on completed outputs from earlier work, this will provide firms with guidelines on how to comply to new requirements to advise on suitability from an ESG perspective. This working group will meet monthly from April – September 2020.
Set of templates for Communicating with Customers – To be developed by a working group meeting monthly from March to September 2020.
ESG data requirements – To underpin the templates will be developed by a working group meeting monthly from March to September 2020.
Overarching review and control provided by Steering Group meeting once every two months.
Hackathon, organised by two deputy chairs, brought together industry
participants (vendors, asset managers, distributors) to understand the
challenges in sourcing ESG data, its consistency and how ESG could be visualised. This
data will be fed into the working groups to inform their outputs; the Executive Committee will review the outputs and agree actions to be taken.
suitability and rules are expected June 2020, after which the outputs above
will be reviewed and updated as necessary prior to publication. Any changes required by
implementation of the EU Sustainable Finance Action Plan, including Sustainable
Finance Disclosure Regulation and Taxonomy, will be incorporated as
Firms who are members of/participating
Chair: Robert Howard, Charles Stanley
Deputy: Petra Lee, Nationwide and Philip Spiropoulos (Eversheds)
Ascentric Baillie Gifford & Co Barings Capital Group Charles Stanley & Co Ltd Coutts & Co EC Squared Ltd Exchange AB Eversheds Sutherland FE Fundinfo FundAssist Limited