The NSTA set up a cross industry/investor and lender ESG taskforce in 2020 when it was clear from investor/lender engagement - itself under pressure to support low-carbon business - that there was a gap between investor expectations and what was actually being reported by industry.

The Taskforce initially focused on the ‘E’ of ESG, in light of a perceived lack of standardised metrics that were manageable, repeatable, and comparable for industry and investors. It agreed on a series of expectations for the future direction companies should take:

  • Operators and licensees to disclose climate related data in their financial reports, and/or websites
  • Industry to be mindful of the gap between investor expectations and what industry are currently reporting and we will encourage and ensure better disclosure & transparency
  • Disclosure should both be quantitative and qualitative with signalled improvements over time
  • Senior leadership teams to set the tone at company strategy level

The Taskforce agreed an outline for optimal ESG reporting and several key indicators which it recommended that operators and licensees align to, and be ready to report in Q1 22, alongside the publication of their 2021 full year audited financial reports financial reports.