In 2002 the City of London Corporation worked with the UK Government to produce "The London Principles: the role of the UK financial services in sustainable development", a framework for sustainable finance which formed part of the UK submission to the Johannesburg Earth Summit.
Inspired by this project, in 2005 (before the Stern Review was even commissioned) the Corporation joined a coalition of 25 financial services organisation, academic and non-governmental institutions led by Z/Yen, with support from Gresham College, and created the London Accord – an agreement to “make investment work for the climate”.
The London Accord is the result of a true collaboration towards better policies through shared investment research. The London Accord’s first cooperative, ‘open source’ research was published in 2007. Over 780 pages, 24 reports analysed the context, opportunities and implications for investment-led solutions to climate change.
The project received international acclaim and has broadened its scope into continuously sharing environmental, social and governance investment research with policy makers and the public.
Since 2007, the London Accord continues to expand its research focus on climate change to include wider environmental, social & governance (ESG) issues recognising that today’s extra financial and social issues are tomorrow’s key investment drivers.
The London Accord has gone from strength to strength and now numbers 50 institutions amongst its contributors, who, collectively, have supplied in excess of 300 pieces of research, making it the largest and most valuable collection of this type of material in the world.
By making investment research on ESG issues widely available to all, the London Accord acts as a nexus between the financial services industry and society to engage on long-term thinking about ESG issues, finance and policies.