FOR IMMEDIATE RELEASE
September 25, 2019
ESG 2.0: ACORE Releases Recommendations on ESG Scoring to Better Reflect Renewable Energy Use and Investment
|WASHINGTON, D.C. – In a new white paper released today, the American Council on Renewable Energy (ACORE) explores the current state of Environmental, Social and Governance (ESG) investing in the U.S. and provides recommendations for ESG methodologies that better reflect renewable energy use and investment.
“ESG scoring today does not sufficiently reflect investment in, and deployment of, renewable power, which is an indispensable part of the climate solution and a critical barometer of carbon emissions,” said ACORE President and CEO Gregory Wetstone. “To accurately measure the climate impact of ESG investments, a more transparent, standardized, material and forward-looking approach is needed.”
The paper, ESG 2.0: How to Improve ESG Scoring to Better Reflect Renewable Energy Use and Investment, outlines how a fragmented marketplace, a lack of transparency in rating methodologies and a failure to focus on truly material information can lead to “sustainability” investments that do not necessarily drive renewable energy deployment or lower greenhouse gas emissions.
“Investors and issuers alike find it difficult to navigate inconsistent and incomplete ESG data, which underscores the need for agreed upon reporting standards,” said David Giordano, ACORE Board Chairman and Global Head of Renewable Power at BlackRock. “As BlackRock continues to grow the range of sustainable investing solutions that we offer, including in renewable power, we recognize the importance of increased transparency and reporting on material ESG factors so that investors can better understand the environmental risks and opportunities associated with their investments as well as the climate-related impact of their capital.”
ESG 2.0: How to Improve ESG Scoring to Better Reflect Renewable Energy Use and Investment includes the following recommendations:
To read the new white paper, please visit https://acore.org/esg-2-0/.
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
Vice President of Communications
American Council on Renewable Energy
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