Green finance needs better data, Visco says

green-shoots

The financial sector needs to greatly improve how it measures environmental, social and governance (ESG) scores of financial instruments, the Bank of Italy’s governor said.

The Italian central bank has stopped investing in instruments issued by firms with poor records on climate change and other ESG factors, Ignazio Visco said. But to do that effectively, the bank had to construct its own methodology to measure the ESG scores of firms, Visco told a conference in London on February 27.

“ESG

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