IOSCO stresses transparency in sustainable finance work plan
The International Organization of Securities Commissions (IOSCO) has adopted what is described as a “very ambitious” work plan on sustainable finance for 2022. It follows a Board meeting that “stressed the importance of mitigating greenwashing and doing what is necessary to create reliable information on sustainability impacts for investors.”
One key activity planned by IOSCO is a thorough review of forthcoming draft climate and general sustainability reporting standards from the International Sustainability Standards Board (ISSB), as well as final versions in due course. “If IOSCO determines that the IFRS Sustainability Standards are fit for purpose, its decision would provide all 140 IOSCO member jurisdictions with the basis to decide how they might adopt, apply or be informed by the ISSB standards,” it states.
In parallel, IOSCO will push forward work to develop assurance standards for sustainability reporting, which it identifies as a key element of building trust. It has also committed to an in-depth review of carbon markets, and plans to step up its engagement with both regulators and market participants on implementation of its recommendations for providers of ESG ratings and data products.
Read more here.
