TISFD News

The Taskforce on Inequality and Social-related Financial Disclosures (TISFD) has announced the members of its Steering Committee.

The Steering Committee, led by TISFD co-chairs Peter Bakker, Sharan Burrow, Arunma Oteh, and Gabriela Ramos, is made up of 25 senior leaders from financial institutions, business, labour, and civil society in 15 countries across six continents.

The committee will oversee the development of a comprehensive global framework for financial disclosures focused on people, guidance on metrics and implementation strategies, and educational tools to support adoption across industries. It will advance TISFD’s mission to incentivize business and financial practices that create fairer and stronger societies and economies.

Committee members include senior executives from ING, CalPERS, AXA, Schneider Electric, McCormick & Co, and Natura, alongside leaders from Oxfam, Pro Mujer, and IndustriALL Global Union, and ILO, among others, in a collaborative effort to ensure the recommendations and guidance developed by the Taskforce are relevant, just, valuable worldwide.

Financial leaders in the committee reflected on the value of the TISFD:

David Blood, Senior Partner, Generation Investment Management said: "Investors have a legal duty to manage systemic risks to their portfolios. We believe the work of the Taskforce on Inequality and Social-related Financial Disclosures will help investors understand the risks presented by inequality and other social factors, and create a simplified, shared approach to analysing the impact of their investments on society and people. TISFD’s approach reduces complexity in reporting and helps achieve long-term value for investors." 

Takeshi Kimura, Special Advisor to the Board, Nippon Life Insurance elaborated: “TISFD will address a need of businesses and financial institutions for a disclosure framework that connects people, planet, and nature. We need to close the gap in understanding system-level risks related to inequality and social issues, and it is important to urge companies to adopt a broader “scope 3lens”, not only in GHG emissions but also in social aspects throughout the supply chain. While ensuring interoperability and harmonization of existing frameworks to avoid creating another new system, TISFD will support the development of a more sustainable and inclusive financial system.”

Marcie Frost, CEO of CalPERS added: "To gain greater insight, we support the work of TISFD toward measuring and reporting on inequality and other socially related, financially material metrics. We believe that a standardized methodology to better account for these risks will lead to more sustainable returns over the long-term."

Vijay Bains, Group Chief Sustainability Officer, Emirates NBD highlighted: “TISFD is crucial to focus financial institutions to create a truly inclusive financial system to support sustainable economies. The Taskforce is essential to help refocus minds on the "S" in ESG and ensure a just and inclusive transition.” 

Notes to Editors

For a full list of Steering Committee members, visit www.TISFD.org.

TISFD was launched in September 2024 by a coalition of over 20 organizations across the public, private, and nonprofit sectors. TISFD will develop recommendations and guidance to support businesses and financial institutions to better understand and report on their impacts, dependencies, risks, and opportunities as they relate to people.

A pilot beta framework is expected to be released publicly at the start of next year.

For more information or media inquiries, contact Arijana Karcic, Operations and Communications Officer, at arijana.karcic@undp.org.