Sustainable finance statistics: Progress, challenges and leveraging digital tools

Abstract

Sustainable finance has attracted increased attention in recent years, and, in turn, the availability of relevant data has become a primary concern. What is currently unclear is how to set up adequate statistical frameworks, to address the associated challenges while benefitting from emerging new opportunities. Given their dual role as both compilers and users of official statistics, central banks are particularly well placed to contribute to these topics. Their experience suggests that making further progress calls for, first, understanding the importance of environmental, social and governance (ESG) issues for the conduct of economic and financial public policies and, second, carefully taking stock of the important statistical compilation initiatives already in train. The third step is to identify sustainable finance information needs and address the related data gaps. Lastly, there is value in leveraging the various opportunities provided by alternative data sources and technology innovation, including through the offering of new digital tools. This paper analyses central ESG issues.