The International Organization of Securities Commissions (IOSCO) has introduced a new network to support the global adoption and usage of the International Sustainability Standards Board’s (ISSB) standards. IOSCO endorsed the ISSB standards in July 2023, a month after their launch, and has called on its members to consider ways in which they might adopt, apply or otherwise be informed by the standards in their jurisdictions. The network will start with a group of 32 members of IOSCO’s Growth and Emerging Markets Committee, representing 31 jurisdictions. The new network is intended to support jurisdictions primarily from emerging markets in their adoption journeys, providing assistance to build local capacity to implement the standards, and a platform for advancing information sharing at a regional level. So far, 56 jurisdictions, both from developed and emerging markets, have taken action to adopt or otherwise use the ISSB standards. ISSB Chair Emmanuel Faber said the network is also important to “all other jurisdictions” because firms with global supply chains will benefit from the availability of comparable data and disclosures from across the value chain and such disclosures will facilitate trade. IOSCO said more jurisdictions have expressed interest in joining the network in the coming months. This week, the UK Sustainability Disclosure Technical Advisory Committee endorsed the ISSB standards, agreeing to full alignment with the majority its criteria.
@IOSCOPress members from 31 jurisdictions have joined the network, which will support capacity-building efforts mostly in emerging markets. https://t.co/IkD1S49mg6
— Regulation Asia (@RegulationAsia) December 20, 2024
