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 How the UK can help to put Saudi Arabia on an accelerated path to a sustainable future Jul 2024 - How the UK's expertise in sustainable finance and global infrastructure financing can help accelerate Saudi Arabia on its path to a sustainable future. How the UK can help to put Saudi Arabia on an accelerated path to a sustainable future Research Report The City of London Corporation's work in support of financial and professional services: annual review 2023/2024 Jul 2024 - The City of London Corporation's annual review on the extensive programmes of work in the UK's financial and professional services industry in 2023/2024. The City of London Corporation's work in support of financial and professional services: annual review 2023/2024 Thought Piece Harnessing the power of London for global climate action: Reflections on London Climate Action Week 2024 Jul 2024 - London Climate Action week is a global moment that sees leaders, organisations and communities from across the world descend on London to drive climate action. Here are some highlights from myself and the City of London sustainable finance team. Harnessing the power of London for global climate action: Reflections on London Climate Action Week 2024 Research Report City statistics briefing Jul 2024 - The City Statistics briefing looks at the City of London's role as a global business hub for financial and related professional services. City statistics briefing