Sean Edwards, Chairman of PITFA, offers a clear view of where ESG stands today in trade finance. While there has been growing debate, particularly in the United States, and some reassessment of rules within the European Union, ESG itself is not disappearing. Instead, the way it is applied is evolving. One of the main challenges facing the market is the sheer number of frameworks and standards. This has created a fragmented landscape that can be difficult for firms to interpret and apply consistently. In response, PITFA is developing a Social Return on Investment model in partnership with Dr Rebecca Harding. The aim is to provide a practical and cost effective way for firms to assess their ESG impact at the level of individual transactions. A key point raised by emerging market participants, especially in Africa, is the lack of focus on the social aspect of ESG. While environmental factors are supported by established data and scientific models, social impact is often harder to define and measure. Yet it remains essential. Trade and investment flows that create employment and support development can deliver significant long term value, even where there are short term environmental trade offs. Edwards’ view is that ESG must be approached in a balanced way. Firms cannot ignore it, but they also need tools and frameworks that reflect real world complexity. The focus now should be on making ESG more practical, measurable and relevant to everyday trade finance activity.