Major banking and investment industry representatives will join a public roundtable hosted by the CSA
With environmental, social, and governance (ESG) gaining so much traction with investors, there are increasing concerns about the value of disclosures.
Firms’ information on ESG matters is sometimes confusing, incomplete, or misleading, often leading to allegations of greenwashing.
The issues of disclosures are the focus of an online event next month being hosted by the Canadian Securities Administrators and open to the public.
The expert panel includes RBC GAM’s head of corporate governance and responsible investment, Melanie Adams; BlackRock Investment Stewardship’s managing director, Michelle Atkins; and David Rutherford, VP of ESG services at NEI Investments.
The panel will be moderated by Wendy Berman, vice-chair of the Ontario Securities Commission.
Among the topics due for discussion are investor risks and needs, regulatory gaps, and how ESG information is included in marketing and disclosures.
There will also be discussion about common ESG-related terminology.
Warning for investment firms
The issues with ESG disclosures have landed Deutsche Bank in the sights of the SEC and German authorities.
The US markets regulator is investigating the German-headquartered banking group’s asset management unit over its sustainable investment offerings.
The SEC’s recently appointed chair, Gary Gensler, is keen to ensure that ESG disclosures are accurate, and the Deutsche probe is unlikely to be the last.
“This is the first of many more to come,” Amy Lynch, a former SEC regulator and president of FrontLine Compliance, told MarketWatch. “The SEC has been letting the industry know that this is an area they’re looking into for the past year. They’ve given every warning.”
To join the free CSA expert panel webinar, register here: https://register.gotowebinar.com/register/3205505621407335949
