Switched On Sustainable Finance Enters Its ‘Messy Middle’
Feb 18, 2026
Maia Mesanger, BloombergNEF specialist in finance policy and transition risk, outlines the current “messy middle” of sustainable finance. She discusses 2025’s policy backtracking, why reporting standards matter, and how EU shifts ripple globally. Short takes on taxonomies, lobbying, scope cuts, and the evolving path to common sustainability rules.
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Global Standards Emerged Via ISSB
- The ISSB aimed to create global non-financial reporting standards similar to international accounting rules.
- Eighteen markets aligned early, helping investors compare companies across jurisdictions with one dataset.
2025 Brought Consolidation Not Collapse
- 2025 slowed the rapid rollout of sustainable finance rules to allow consolidation and effectiveness checks.
- Policymakers aimed to assess whether rules truly unlocked transition financing and revealed climate exposures.
Coordination Increased Between Jurisdictions
- Jurisdictions increasingly coordinated via bilateral work and platforms like the International Platform on Sustainable Finance.
- Regional bodies (ASEAN), COP and G7 also pushed alignment around reporting standards.