The International Organization of Securities Commissions (IOSCO) is the international body that brings together the world’s securities regulators and is recognized as the global standard setter for the securities sector. On 26 July 2021, the IOSCO issued a Consultation Report intended to assist IOSCO members in understanding the implications of the activities of environmental, social and governance (ESG) ratings and data providers.

According to the IOSCO’s press release, the report proposes recommendations to mitigate risks associated with ESG ratings and data products and to address some of the existing challenges faced by ESG ratings and data products providers, users of ESG ratings and data products, and the companies that are the subject of these ESG ratings or data products. The Board of the IOSCO is soliciting feedback on the proposed recommendations. Comments may be submitted until 6 September 2021.