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 January 28, 2009
UNEP Financial Disclosure Package to Be Released

 Today in Davos Switzerland at the World Economic Forum, the UNEP Finance Initiative will launch a two-tier "reporting and disclosure package" to assist financial institutions boost their sustainability reporting and disclosure activities.

The launch will take place at a function hosted by UNEP FI member company Innovest Strategic Value Advisors (ISVA).  UNEP Executive Director Achim Steiner, Nobel Laureate Economist Joseph Stiglitz, investor and philanthropist George Soros, and Lord Nicholas Stern, author of the Stern report and Senior Advisor on climate change to HSBC Chairman, Sir Stephen Green will be on hand for the launch.

The "Reporting and Disclosure Package" for financial institutions will include: 

"At a time when we are looking for a greater degree of transparency from our financial institutions it is vital that there is commonly-agreed guidance on what that disclosure should look like. The Financial Services Sector Supplement assists by explaining how firms can measure and disclose key data on the sustainability of their investments, products and services."

Sean Gilbert, Global Reporting Initiative

 Matthew Kiernan, Chief Executive of Innovest commented: "Stronger reporting and disclosure tailored explicitly for capital markets will act to hard-wire ESG issues into the market system as it remakes itself post the crisis. UNEP FI’s work with GRI and the North American Task Force (NATF) report is important as a foundation point. We still have to work harder to ensure key parts of the financial and capital market architecture use ESG data and information."

To download the GRI FSSS and the NATF report, please click here: http://www.unepfi.org/events/
2009/davos/index.html

Source: United Nations Environment Programme