IOSCO speech on sustainable finance

Written by Zhuan Faraj

On 4 November 2021, the International Organization of Securities Commissions (“IOSCO”) published a speech given by Erik Thedéen, Chair IOSCO Sustainable Finance Task Force.

The speech covered a number of issues, including the following:

• IOSCO welcomes the establishment of the International Sustainability Standards Board (“ISSB”), announced by the IFRS Foundation on 3 November 2021. IOSCO plans to thoroughly assess the ISSB proposals to ensure they meet the needs of investors before deciding whether IOSCO can endorse them. Its assessment will analyse how the ISSB global baseline for sustainability standards can be adopted within regulatory frameworks to promote consistent and comparable sustainability-related disclosures across jurisdictions.
• IOSCO will shortly publish a report on ESG ratings and data product providers, where they call for transparency on how providers develop their ratings and good governance, free from conflicts of interest, to increase trust in the outcome of the ratings.
• IOSCO will convene an international roundtable of key players in sustainability assurance to assess the needs, challenges, and opportunities for the enhancement of the current ecosystem and assurance framework.

The speech can be read in full here.

For an overview of Burges Salmon’s work in Sustainable Finance and relevant contacts, see here.