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The market for ESG ratings and data has grown considerably over the past few years due inter alia to a lack of consistent information disclosures at the entity level, the increasing interest of investors in ESG products and the legislative and regulatory focus on financial market participants’ consideration of the ESG characteristics of potential investments.
The IOSCO Consultation Report on Recommendations for Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management (Consultation Report) focuses on investor protection issues and proposes that securities regulators consider setting regulatory and supervisory expectations for asset managers regarding sustainability-related risks and opportunities.
Ashley Alder, Chair of the IOSCO Board, said: “Though the Annual Meeting was virtual this year, members made tremendous progress in addressing the emerging risks arising from the COVID 19 pandemic and other critical matters such as climate change and financial stability issues. IOSCO has proven it can respond quickly and effectively to events that could harm investors and undermine market integrity.”

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