ITFA ESG webinar

ITFA’s relaunched ESG report unveils path to sustainable trade: A call to action for the industry

ITFA has announced the re-release of its groundbreaking report titled ‘The Regulatory Reality of Making Trade Sustainable’. Commissioned by the ITFA ESG Committee and authored by Dr Rebecca Harding, this important publication is now publicly available, underscoring ITFA’s commitment to disseminating critical information on environmental, social and governance (ESG) matters.

Drawing insights from an extensive survey of ITFA members and 40 in-depth interviews with banks, credit insurance providers and fintechs, the report represents the views of an industry grappling with ambiguity in ESG reporting requirements and audit standards.

The report argues that the existing regulatory structures governing sustainability reporting by financial institutions have given rise to unforeseen consequences that could hinder the long-term achievement of global sustainability targets. It contends that market distortions are providing perverse incentives to banks, potentially widening the trade finance gap and raising the risk of “green hushing”.

The report makes a number of recommendations for ITFA and the wider trade finance industry, including the establishment of an Audit Council, the creation of a shared database for trade finance-specific scenario models, and inclusive mechanisms for regulatory conversations that prioritise, among other matters, the social aspects of sustainability as much as the environmental ones.

ITFA now invites members of the trade finance community to an interactive webinar with the report’s author as well as the head of the ITFA ESG committee; join the discussion to explore the findings, implications and future steps. This webinar is open to anyone, ITFA members and non-members and is free of charge.

Webinar details:

Date: 12 September 2023
Time: 12:00 BST / 7:00 pm Singapore / 7:00 am EST

To register, kindly fill in the online form here.

ITFA’s ESG Committee urges your participation in discussing strategies to implement these recommendations.

Download the full report and executive summary.

For media inquiries, please contact info@itfa.org