'ESG Financial Regulation and Reporting – Finding a Clear Way Forward' (2015-2016 Paper Series) : Part One: ESG Financial Reporting — The Business Case for Alignment and Direction

This paper, Part One of a 2015-2016 Paper Series, examines the need for ESG data transparency, consistency, and reliability. It identifies (i) the three main drivers creating the rising global capital market systemic risk caused by unrecognized, under-reported, and under-valued ESG risks; (ii) key market-based drivers of change; and (iii) key financial regulatory drivers of change. It concludes with remarks on the role of regulation in mitigating this growing global capital market systemic risk, and provides recommendations for policymakers and regulators