Global Correspondence

GFMA Response to IOSCO Consultation on ESG Rating and Data Products Providers

GFMA, which is comprised of AFME, ASIFMA, and SIFMA, has published a response to the IOSCO Consultation Report on ESG Ratings and Data Products Providers.

GFMA welcomes the consideration of the issues regarding ESG ratings and data products discussed in the Consultation Report. As the Consultation Report notes, the use of ESG ratings and data products has grown considerably as investors’ focus on ESG matters continues to increase and financial institutions face increasing sustainability disclosure requirements.

GFMA welcomes the fact-finding exercise conducted by IOSCO and shares IOSCO’s concerns related to the issues described in this consultation regarding a lack of transparency, comparability, and reliability in the market of ESG ratings and data products. GFMA also encourages IOSCO to coordinate further work in this area to minimise fragmented approaches to these issues.

– 13 September 2021 –

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