Date: 20th March 2019

BETTER FINANCE welcomes the update of the non-binding guidelines on non-financial reporting as a crucial step toward achieving the Paris agreement and the Sustainable Development goals by reorienting capital flows to support a long-term sustainable and just economy. However, it also expresses some doubts about the effectiveness of these requirements due to their not binding nature and the lack of specific indications on how to assess a company’s awareness. It also stresses the necessity of the scientific and standardized methodologies in order to estimate and calculate non-financial KPIs.