- set regulatory and supervisory expectations for asset managers as to sustainability-related practices and related disclosures;
- improve product-level disclosure by expanding on existing regulatory requirements or creating new ones;
- have supervisory and enforcement tools to ensure compliance by asset managers and to address breaches;
- encourage the development of common sustainable finance-related terms and definitions; and
- promote sustainability-related investor education initiatives.
Additionally, in a final report on corporate issuers' sustainability-related disclosures, IOSCO outlined its Sustainable Finance Task Force's next steps. Among them are:
- monitoring the International Financial Reporting Standards ("IFRS") Foundation's work towards the establishment of the International Sustainability Standards Board ("ISSB");
- (i) "considering market acceptance of the ISSB's future standards" and (ii) "setting a pathway for the ISSB's sustainability reporting standards to serve as the baseline for consistent and comparable approaches to mandatory sustainability-related disclosures across jurisdictions, in light of domestic legal frameworks";
- influencing the development of an audit and assurance framework for corporate sustainability-related disclosures; and
- overseeing the transition to the "steady state" for IFRS sustainability-related financial reporting standards, including the expansion of the scope of the ISSB's standards beyond climate change.
- IOSCO Press Release: IOSCO Consults on Sustainability-Related Regulatory and Supervisory Expectations in Asset Management
- IOSCO Report: Recommendations on Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management
- IOSCO Press Release: IOSCO Elaborates on Its Vision and Expectations for the IFRS Foundation's Work towards a Global Baseline of Investor-Focused Sustainability Standards to Improve the Global Consistency, Comparability and Reliability of Sustainability
- IOSCO Report: Report on Sustainability-Related Issuer Disclosures
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