The Taskforce on Inequality and Social-related Financial Disclosures (TISFD) has appointed four co-chairs to lead its steering committee, coinciding with the initiative’s formal launch. The TISFD will develop a global framework for companies and financial institutions to heighten disclosures about impacts, dependencies, risks, and opportunities related to social issues – including inequality – within their public reports. The new Co-chairs are Peter Bakker, President of the World Business Council for Sustainable Development; Sharan Burrow, former general secretary of the International Trade Union Confederation; Arunma Oteh, former treasurer at the World Bank; and Gabriela Ramos, Assistant Director-general for Social and Human Sciences at the United Nations Educational, Scientific and Cultural Organization. The TISFD’s core objective is to drive “meaningful and concerted” action among market actors to mitigate the risks of social and inequality issues, and capitalise on opportunities emerging from efforts to create stronger economies and societies. The taskforce was developed by a working group of 25 organisations stemming from business, finance, labour, and civil society backgrounds – including the California Public Employees’ Retirement System, the Organisation for Economic Co-operation and Development, and the World Benchmarking Alliance. In addition, the TISFD has published its full scoping paper, which outlines its vision, scope, governance model, and indicative work plan, following the publication of a report containing feedback findings earlier this month.
