Today is Wednesday, October 18, 2023.
If from Febraban Tech 2022 we brought the theme Greencoding as a new frontier of software development, from the 2023 edition we will discuss the panel “Those who don’t measure, don’t change: the search for metrics, indicators and ESG governance models”.
According to the panel moderator, Beatriz Secaf, the challenges of devising strategies and disseminating information on environmental, social and corporate governance issues is a global challenge. The lack of information for measuring ESG is a global obstacle because the tools used by banks still cannot meet all the needs of financial institutions' sustainability agenda.
In other words, besides cultural and language issues, the difficulty in understanding patterns and correctly interpreting data are challenges in putting ESG principles into practice.
It is no surprise that the main reporting standards are seeking synergy. A few days ago we commented on the joint statement between GRI and EFRAG, a high level of interoperability agreement reached between the European Sustainability Reporting Standards (ESRS) and the GRI Standards.
Back to the panel, for Gladis Ribeiro from the International Finance Corporation (IFC), one of the biggest challenges in implementing ESG practices is the quality of the data. “In large companies, data is spread out and we have to ensure that the information collected is correct,” said the executive. From her point of view, it is essential to have a good infrastructure to collect and process data, looking at three fronts: customers, social and environmental aspects.
Not to mention the role of big-data and internal audit in ESG. See here what KPMG understands about this.
Click on the image below - cover page of a publication by IBGC already mentioned by us - for a video and the full article from Febraban Tech, including cases from the banks Santander (since the pioneering experience of ABN AMRO Real) and Banrisul.
In the coming days we will have more posts in our "Bit-Environmental" category. Among them, another lecture from Febraban Tech 2023 on tokenization as a key to expanding access to digital assets. Carbon credits, maybe? Follow along.
