(Finance) – “The Covid-19 pandemic has highlighted how the health, economy and social aspects are intrinsically connected, linked in a triple thread, and how a serious problem can negatively impact all three sectors, placing the stability of the entire country system in a serious crisis. Based on this recent experience that has put Italy and the whole world to the test, I believe it is necessary to think of a new plan for doing finance. Values’ Metrics wants to equip international finance and its investors with an evaluation criterion to create a new economy. Investments must not only take into account profits, but also the social and environmental impact in order to promote a development model truly sustainable and in line with the principles that protect the common good towards an integral ecology “. This is what he claims Maurizio Grifoni, president of Fon.Te. in his speech atevent “A New ESG Metrics inspired by the Encyclical Laudato Si ‘” held at the Teutonic College of Vatican City. At the center of the meeting was the presentation of the “Values’ Metrics” project, based on new tools for evaluating, measuring and validating the sustainability of companies, useful for guiding investments and investors, providing them with more effective and concrete method support.
“This meeting – he explained Griffins on the sidelines of the event – is the first step to present Values’ Metrics. A presentation that takes place in the Vatican because Values ’Metrics tries to reconcile the ESG criteria, the taxonomies, all the various currently existing metrics, also taking the indications from the encyclical Laudato Si’ and from the social doctrine of the church. It is something different than what you are seeing right now. As an institutional investor I can say that there is no international standard for ESG criteria and therefore everyone has a say about him. We do something different: we take up the concept of generative finance, of non-speculative finance, for a new economy, for an economy of the common good. This new metric is used to evaluate the whole world of business and finance and give it a way in which the ethical and anthropological sense of the economy is recovered. What finance must be able to do is support the economy to move towards the common good “.
Investments more socially and environmentally oriented. Finance has already taken this direction to some extent. What needs to be done to achieve this?
“Much more needs to be done. There are about 125 data providers that talk about ESG and the evaluations and metrics that are used are completely different. This means that the investor does not know if everything that has been evaluated actually has a consistency. compared to other types of valuations. Finance has done wrong but not only finance has done wrong. We all wonder where we are wrong, why we are wrong. In this scenario, Values’ Metrics absorbs the fundamental concepts and gives a very clear and precise assessment. We are not only talking about the environment, social issues, governance, but we are recovering the matrices of the economy, of ecology. We are recovering these values which are fundamental and which we have lost. We have lost our way and we are going in a very dangerous direction ” .