Chair: Judson Berkey, Managing Director and Group Head of Sustainability Regulatory Strategy, UBS
Bringing together over 200 members representing banks, investors, insurers, professional service firms and multilateral financial institutions, the IIF SFWG seeks to build consensus and advance industry perspectives on the dynamic global sustainable finance agenda, including through regulatory and policy engagement, strategic projects, analytical research and development of tools and resources. By providing an international forum for public-private sector dialogue and collaboration, the SFWG supports the design and implementation of effective climate and sustainability-related financial sector policy and regulatory frameworks (including on topics such as disclosure, taxonomies, prudential supervision, and financial stability assessment). A key SFWG objective is to promote capital market solutions that support product innovation and the scaling up of sustainable finance (including by engaging on barriers to and catalysts for the broader mobilization of private finance). The SFWG coordinates with other IIF Working Groups, notably in the Regulatory Affairs Department, to respond to sustainable finance-related global policy and regulatory developments. The SFWG engages regularly with official sector entities including: the global standard setting bodies like the Basel Committee on Banking Supervision (BCBS), the International Organisation of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS); the G20/B20; the Network for Greening the Financial System (NGFS); the IMF, World Bank/IFC and other multilaterals; and the OECD and other international organizations including the United Nations Environmental Programme (UNEP), as well as national authorities to support international collaboration and reduce fragmentation.
- Sustainable Finance Policy Expert Group (SFPEG)
The SFPEG, co-led by the IIF Global Policy Initiatives and Regulatory Affairs Teams, serves as the nexus for industry dialogue on policy and regulatory developments across the climate and ESG sphere, and options to support greater alignment of jurisdictional frameworks and emerging global standards. The SFPEG serves as the platform for development of industry consensus views on policy issues, including IIF responses to consultations, and broader official-sector engagement. The SFPEG is comprised of global policy and regulatory leads within IIF member financial institutions (banks, insurers, asset managers), who are responsible for developing advocacy strategies and managing official-sector engagement on sustainability topics.
- Sustainable Finance Disclosure, Data, and Classification (SFDDC)
The SFDDC group, co-led by the IIF Global Policy Initiatives and Regulatory Affairs Teams, provides a platform for dialogue on technical issues, identification of common priorities, and delivery of special projects in the disclosure, data, and classification sphere. Key agenda items for this group include the development of global disclosure standards, use of ESG ratings and data products, evolving disclosure practices (e.g. transition plans), and the design and implementation of classification systems, such as taxonomies.
- Sustainable Finance Risk and Alignment Methodologies (SFRAM)
The SFRAM group, co-led by the IIF Global Policy Initiatives and Regulatory Affairs Teams, provides a platform for dialogue on technical issues and tools, identification of emerging practices, and delivery of special projects on risk and alignment topics, with a special focus on climate change. Key agenda items for this group include the design and implementation of risk management frameworks, the design of industry and supervisory scenario analysis exercises, metrics and methodologies for climate risk and alignment quantification, and links between climate risks and the prudential framework.
Where possible, we encourage firms to coordinate internally on their nominations to SFPEG, SFDDC, and SFRAM groups. To keep the group sizes manageable and maintain diversity of representation across the IIF membership, we anticipate having one or two representatives from a given firm within a group.