Sustainability targets will largely set the social agenda in the decades to come. Financial firms have a significant contribution to make in the transition to a sustainable society. They will increasingly be called to account in this respect.

Encourage

As a supervisor, we feel a responsibility not only to get players in the capital markets to improve the transparency of their reporting in this respect, but also to urge them to take responsibility. Based on the legislative frameworks, we can encourage and enable companies to do the right thing for people and the world around them.

Make a start

But this legislation is still not yet complete. Sustainability definitions and reporting standards are still in development. Our supervisory philosophy reflects this. We understand that the sector needs clarity and that optimal reporting on non-financial impact cannot be expected right away. But we do expect companies to make a start on this, and to stay committed to improvement.

Right direction

We all feel a sense of urgency. We as the supervisor, society, and also the sector itself. So this is our message: make a start. Accept today’s uncertainty, and take the lead. In our role, we will stand alongside you to see whether the sector is moving in the right direction.

Laura van Geest, Chair of the AFM