Bridging the ESG Data Gap

Why does the World need an OECD-led open-access architecture and what COP30 might bring

We have the ambition to save the planet through finance, but we do not yet have the data infrastructure—or the trust—to reliably measure our progress. In today's rapidly evolving global economy, Environmental, Social, and Governance (ESG) factors are integral to responsible investment, corporate strategy, and sustainable development. However, a critical bottleneck hinders progress: the fragmented, opaque, and inconsistent landscape of ESG data. The sheer volume of information is overwhelming, yet its utility is undermined by a pervasive lack of comparability and transparency (Hummel and Jobst 2024). The timing for a transformative solution should come soon, and we believe the Organisation for Economic Co-operation and Development (OECD) is uniquely positioned to champion the architecture of an open-access platform for worldwide ESG data.

Let’s take the standpoint of ESG analysts, whose objective is to measure an undertaking’s sustainability efforts. Research starts with a thorough analysis of the industry’s main challenges, classifiable as “context data”. Numbers and qualitative assessments of the sector are easily findable on many public sources. The focus turns to the company: studying its identity, its positioning and its targets. Finally, research delves into the strategic matters. How does the company map and react to “structural” industrial challenges? What efforts is it turning on to pursue improvements? Here comes the “war fog” of ESG data. What they can tell is – very often – less than what they could hide. Quantitative ESG data explain yearly variations on targets, quarterly achievements and updates. Reported ESG data – even if audited - offer statistically relevant socio-environmental progresses, but fail to explain the strategies adopted by the company and the ways in which such company could be endorsing its plans overtime. This latter part is – very often – not communicated.

So the ESG Rating analysts formulate their hypotheses but they ought to be verified. This is where we stand: the necessity for a global platform facilitating accessible ESG data stems directly from what the OECD itself has meticulously documented. The insightful report, "Behind ESG ratings: Unpacking sustainability metrics," laid bare the startling discrepancies in how sustainability is measured (OECD 2025). By analysing thousands of metrics from leading ESG rating providers, the OECD confirmed what many suspected: there is a profound lack of alignment in methodologies, scope, and even the fundamental definition of what constitutes good ESG performance (OECD 2025). This situation creates significant hurdles for investors seeking to make informed decisions, companies striving to improve their impact, and policymakers attempting to steer markets towards sustainable outcomes. If we applied these same insights for ESG data, we would probably converge to the fact that without a standardised, transparent, and easily accessible source of core ESG data, the promise of sustainable finance remains largely unfulfilled, mired in a swamp of conflicting signals and proprietary information.

This isn't merely about convenience; it's about market efficiency and public good. The OECD's active involvement in the G20 Sustainable Finance Working Group (SFWG) underscores this point, where a key priority is achieving greater alignment, interoperability, and transparency of ESG metrics and rating methodologies. (G20, 2025) This commitment is, in essence, a direct call for a system that functions as an open-access platform. It acknowledges that comparable ESG data, particularly concerning critical areas like climate and environmental risks, should be treated as a public good. An open-access platform by the OECD, built on shared standards and transparent methodologies, would democratise access to this information, empowering a much broader array of stakeholders to understand and act upon ESG risks and opportunities.

Furthermore, an OECD-led initiative would align perfectly with their broader "Recommendation on Enhancing Access to and Sharing of Data (2021)" (OECD 2021). This foundational policy framework advocates for efficient and responsible data sharing across all sectors, emphasizing the use of common technical standards and adherence to the FAIR principles: Findable, Accessible, Interoperable, and Reusable. Imagine ESG data that is not only accessible but also truly interoperable, allowing for seamless integration and comparison across different analytical tools and research efforts. Such a platform would move beyond simply making data available; it would transform it into a collective asset that fuels innovation and accountability. The OECD's mandate and expertise in fostering international cooperation, developing robust standards, and promoting economic well-being make it the ideal architect for such a global undertaking.

The discussions at upcoming climate summits, such as COP30, are highly likely to feature the critical role of ESG data. As nations push for more ambitious climate targets and increased financial flows towards adaptation and mitigation, the need for robust data will become paramount. Topics at COP30 will undoubtedly include the necessity of transparent reporting on climate-related financial disclosures, the development of common metrics for assessing climate impact, and the imperative to track progress against nationally determined contributions (NDCs). Postponing the need for an accessible global ESG data platform, the ability to accurately measure, report, and verify these efforts will remain constrained, hindering collective action and accountability.

Scholars have frequently highlighted how fragmented data environments lead to "greenwashing" concerns, as companies can selectively report positive aspects while obscuring less favorable ones. By encouraging comprehensive disclosure and reporting frameworks, an open-access platform would significantly mitigate these risks, enhancing corporate accountability and investor trust. Moreover, such a resource would be invaluable for academic research, enabling deeper insights into the causal links between ESG performance and financial outcomes, and thus refining our understanding of sustainable value creation. Imagine the acceleration in climate risk modelling, social impact assessment, and governance effectiveness studies if researchers had access to a consistent, global dataset. For emerging economies, a standardized platform would also level the playing field, providing transparent data access that can attract sustainable investment and support their transition to greener, more equitable development pathways.

Consider the role of data in the financial world, as illuminated by Daniel Cash's Substack post on credit ratings (Cash 2025) other considerations follow: just as a credit rating functions as a finely honed prism, taking raw financial data—balance sheets, income statements, debt ratios—and refracting it into a single grade of creditworthiness, so should be doing an ESG rating agency aim to distil myriad environmental, social, and governance disclosures into an assessment of sustainability. However, the scholar believes that critical difference lies in the quality and comparability of the input. In the credit rating world, the underlying financial data, while complex, operates within long-established accounting standards, allowing for a relatively consistent interpretation. In contrast, ESG data, in its current state, is like a mosaic where each tile comes from a different quarry, cut to a different size, and painted with a different hue, making it exceedingly difficult to form a coherent, reliable picture for an ESG rating agency. The EU Single Access Point (2024) will surely make the difference in Europe. But an OECD-made open-access platform would provide the shared quarry and standardised tools needed to cut those ESG tiles consistently, ensuring that the ESG ratings prism can refract truly comparable and meaningful insights, much like its credit rating counterpart. This makes the necessity for an OECD-made platform on worldwide ESG data not just a vision, but an imperative.

A cura di Manfredi Morello

References

• Cash, Daniel. (2025) “Who writes a Country’s Credit Story?”. Substack, November 11, 2024. https://substack.com/home/post/p-178587114 

• European Single Access Point (2024) https://www.european-financial-data-space.com/European_Single_Access_Point_(ESAP).html 

• Hummel, Kai, and Philipp Jobst. (2024) "Sustainability Reporting Regulation within the European Union." European Business Organization Law Review 25, no. 1: 1–40.

• Organisation for Economic Co-operation and Development (OECD). (2021). Recommendation of the Council on Enhancing Access to and Sharing of Data. OECD/LEGAL/0463. Paris: OECD Publishing.

• Organisation for Economic Co-operation and Development (OECD). 2025. Behind ESG ratings: Unpacking sustainability metrics. Paris: OECD Publishing.

• G20 (2025). Third G20 Sustainable Finance Working Group Meeting 12-13 June 2025 | Cape Town, South Africa