A stable, well-functioning financial market for allA stable, well-functioning financial market for allIOSCO takes important step towards global sustainability disclosure
An important step has now been taken towards a global standard for sustainability reporting. The Board of Directors of the International Organization of Securities Commissions (IOSCO) voted during its meeting yesterday for IOSCO to actively work to achieve a unified and comparable global standard for sustainability disclosure. IOSCO’s work in this area is being carried out within the work group led by Finansinspektionen’s Director General Erik Thedéen.
"The decisions the IOSCO Board of Directors has taken mark an important milestone and show that there is now strong consensus regarding the need for a global standard for sustainability reporting and for the work that IOSCO will pursue leading up to the COP26 climate conference, which will be held already in November," says Erik Thedéen.
IOSCO played a key role in the development of the global standard for financial reporting (IFRS) twenty years ago, and there is already an expectation that IOSCO will once again take a leading role. IOSCA has now formally stepped into this role. IOSCO's 155 members exercise supervision of around 95 per cent of the world's securities markets.
