Welcome to the All-Party Parliamentary Group (APPG) on Environmental, Social, and Governance (ESG).
The APPG on ESG plays an important role in helping the Government meet landmark policy objectives such as net zero, combatting modern slavery and improving corporate governance.
Chaired by Alexander Stafford, Conservative MP for Rother Valley, the APPG delivers cross-party policy recommendations and guidance to help businesses account for their environmental and social risks and impacts, ensuring investors are better informed for the benefit of society, the environment, and the UK economy.
Voluntary Carbon Markets (VCMs) are recognised as a “powerful climate finance tool” with notable secondary benefits – e.g. raising biodiversity and supporting local communities economically, particularly in the global south. However, the market suffers from a lack of trust, stymying growth, and potential buyers of carbon credits are often wary of greenwashing accusations.
With Sue Lloyd, Vice-Chair of the International Sustainability Standards Board; Lee White, Executive Director of the IFRS Foundation; and Richard Barker, ISSB Board Member.
Alexander Stafford MP, chairman of the APPG on ESG, has highlighted gender equality and gender washing as key topics for the group to explore as part of its work in moving the ‘S’ agenda forward. The roundtable raised key issues around funding for female entrepreneurs, the family and education. The solutions cover many areas, but begin with improving the quality and quantity of data, highlighting the many barriers faced by women in different regions and different contexts.
As the APPG focuses more on the social aspects of ESG, we were honoured to have Luba Nikulina attend our roundtable to discuss the DWP’s ‘Social Factors’ Taskforce. The discussion revolved around how the ‘E’ and the ‘S’ work together, modern slavery, disclosures, and the need for more work on the social pillar of ESG.
The APPG discussed the array of policy initiatives outlined in the recent Green Finance Strategy to transform the UK into the world’s first net zero financial centre. Key topics included the forthcoming UK Green Taxonomy, the recently announced ESG ratings consultation, and the UK’s approach to steering the global green finance agenda.
Nitika Agarwal, from WWF, and Paddy Arber, from Aviva, discussed an additional “climate and nature” objective in the FSMB, which would influence financial regulators’ policymaking, supervision and guidance, potentially transforming the financial services industry and the broader economy. A weaker “net zero” regulatory objective appears in the Bill as it currently stands. However, WWF, Aviva, and their partners believe a climate and nature regulatory principle must feature to ensure the transition to a greener economy.
Alexander Stafford is the Conservative MP for Rother Valley. He was elected to Parliament in December 2019, founding the APPG on Environmental, Social, and Governance in March 2021. As Chairman of the APPG on ESG, Alexander hopes to help Britain become a world leader by engaging cross-party politicians with British business leaders, NGOs, regulators, and other key stakeholders, collectively helping to sustain ESG’s progress.
