Posted: 11 Dec 2023 Resource Type: Research Report Download Back The City of London Corporation’s International Regulatory Strategy Group (IRSG), jointly with the International Capital Markets Association (ICMA), has published a new, globally consistent Code of Conduct for ESG Ratings and Data Products Providers. As demand for sustainable products continues to grow, firms increasingly rely on third party ESG data and ratings products. This industry-led Code has been created to increase transparency and trust in the market. The Code is grounded in IOSCO’s recommendations for ESG data and ratings, with a focus on promoting transparency, good governance, management of conflicts of interest, and robust systems and controls. This was officially launched on 31 January by members and observers of the ESG data and ratings working group (DRWG) who came together at the London Stock Exchange to celebrate the release of the Code of Conduct for ESG Ratings and Data Products Providers. By basing the Code heavily on IOSCO’s recommendations, it is intended to be internationally interoperable, and it is hoped that it can represent an important step towards a globally consistent regulatory framework. IOSCO welcomes this voluntary Code of Conduct and considers it an important building block to providing an international baseline which will improve transparency and trust for all market participants. Tajinder Singh, IOSCO Deputy Secretary General Watch the market opening and panel discussion to hear from key decision makers and stakeholders on how the Code of Conduct can help enhance consistency, transparency, and accountability in the financial services industry. In 2022, the FCA appointed the IRSG and ICMA to convene an industry group to develop a globally consistent voluntary Code. The FCA, HM Treasury (HMT) and other national and international financial regulators acted as observers. The working group brings together stakeholders such as ratings and data providers, asset managers, asset owners, banks, corporate rated entities, NGOs, academics and other organisations. Helping economies worldwide tackle climate challenges The Global City sustainable finance hub The Global City sustainable finance hub Stay in touch Sign up to our mailing list to make sure you're the first to hear about news, reports, and events relating to financial and professional services from the City of London Corporation. Sign up now Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download Related content Thought Piece Navigating Nature’s Value | Insights into the Biodiversity Credit Market May 2024 - Nature sustains both economies and livelihoods. Yet despite the alarming risks that society faces from nature loss, nature restoration and conservation projects still face a significant financing gap. Navigating Nature’s Value | Insights into the Biodiversity Credit Market Thought Piece International financial & professional services firms access the workers they need in the UK May 2024 - The UK’s talent pool is the bedrock of its world-class FPS sector. This competitive edge explains why so many international financial and professional services (FPS) firms choose to locate in the UK. International financial & professional services firms access the workers they need in the UK Research Report The UK | a top destination for financial and professional services investment Apr 2024 - Research led by the City of London Corporation shows that the UK continues to be Europe's most popular destination for foreign direct investment in financial and professional services The UK | a top destination for financial and professional services investment News Women pivoting to digital Apr 2024 - Announcing a new taskforce taking action around women pivoting from non-technical backgrounds into digital roles Women pivoting to digital