Interoperability, proportionality, flexibility

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Apr 27, 2023

On April 27, 2023, The International Organization for Securities Commissions (IOSCO) released the transcript of a key note address given by Jean-Paul Servais, Chair of the IOSCO Board, at the Eurofi 2023 Conference in Stockholm.

Mr Servais welcomed the efforts of the standard setters that are likely to result in both sustainability-related disclosure standards and related assurance standards to be ready for use by corporates for their end-2024 accounts and noted that this was in response to significant investor demand for high quality and reliable sustainability disclosures.

He stressed that a global language for sustainability disclosures is needed in order to promote greater consistency and comparability of disclosures and highlighted that IOSCO, therefore, welcomes the ISSB's commitment to publishing its global standards for climate disclosures and general requirements in Q2.

Once they have been released, IOSCO responsibility to consider potential endorsement of the ISSB standards. A potential endorsement should be a game changer and give impetus for the adoption or use of the first global and inclusive framework for sustainability-related disclosures by corporates.

Refer to the speech on the IOSCO website.

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