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Reforming ESG : a European and Global South perspective
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1355-770X; 1469-4395
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Environment and development economics, 2025, OnlineFirst
Florence School of Regulation; [Climate]
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BORGHESI, Simone, CONSTANTINI, Valeria, D’AMATO, Alessio, DIBATTISTA, Ilaria, KOUNDOURI, Phoebe, LI, Qinci, MAZZARANO, Matteo, STERNER, Thomas, TIWARI, Mira Manini, VIS, Peter, XEPAPADEAS, Anastasios, Reforming ESG : a European and Global South perspective, Environment and development economics, 2025, OnlineFirst, Florence School of Regulation, [Climate] - https://hdl.handle.net/1814/77787
Abstract
The EU's non-financial reporting (NFR) regulations have significant impacts on Global South stakeholders, firms that must report, actors lower in the value chain, and organisations seeking investment from NFR-compliant firms or institutions. This paper sets forth six proposals to improve the global equity and sustainability implications of the EU's NFR from a Global South perspective. The proposals involve (1) developing regulation cooperatively with the Global South; (2) streamlining reporting to enable the regulations to have real effects and limit incorrect accounting; (3) digitalising reporting through accessible technologies for greater accountability and lower administrative burdens; (4) mandating scope 3 emissions accounting and incentivising related investment; (5) anchoring financial institutions' role in ethical investment and bridging Northern and Southern actors; and (6) strengthening citizen data and sustainability literacy to close the circle of incentives, implementation, and impact.
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Published online: 13 January 2025