The Portfolio Management Association of Canada (PMAC), with the assistance of a member working group consisting of CFAs and ESG experts, is pleased to have the opportunity to submit the following comments regarding the International Organization of Securities Commissions (IOSCO) Consultation Report Recommendations on Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management (the Consultation).
The following are PMAC’s key recommendations to IOSCO with respect to the Consultation:
- Prioritize efforts to standardize sustainability-related definitions;
- Continue to emphasize how access to data impacts ESG disclosure standards for asset managers and issuers; and
- Emphasize the need for principles-based regulation to ensure investors are meaningfully informed and that disclosure can be adapted to the needs of each investor and firm. This will encourage flexibility in the rapidly developing area of sustainability-related disclosure and can help result in a proportionate regulatory burden.
Read the full submission here