Fernando Rodríguez | Ahead of the COP26, IOSCO, the international forum which encompasses 95% of global stock market regulators, is collaborating with IFRS, dedicated to developing standards for financial and non-financial information. The two organisations are working flat out to be able to present an ESG standard prototype, and its corresponding recommendations, to financial intermediaries at the conference on climate change to be held in Glasgow, Scotland, October 31-November 12.
IOSCO and IFRS’ Sustainability Task Force (STF) have been working since spring 2020 on a global framework which will serve to unify the information on this area which share issuers and asset managers have to provide. In addition, they are looking to define the role that providers of data and ESG risk qualifications should play. The objective is to homogenize reporting criteria, prevent greenwashing and ensure investors’ interests are protected.
The standard “platform” which the two organisations in question are working on would be compatible with the diverse reporting metrics and models currently operative in the market.
