On the 18 August 2021, CA ANZ and CPA Australia, together as ‘the Major Australian Accounting Bodies’ responded to Recommendations of Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management a consultation paper issued by IOSCO (the International Organization of Securities Commission).
While we hold different views to some of the recommendations made in the Consultation Paper, we welcome the overall direction of the recommendations and agree with the principles underlying most of these recommendations.
We recommended that not only do asset managers need to improve their sustainability practices and disclosures, but so do asset owners, financial institutions and companies in the real economy, along with the public sector. All have a role to play and are highly interdependent in national and international endeavours for addressing the wide range of material ESG/ sustainability challenges ahead of us (e.g. climate change, biodiversity loss, cybersecurity, diversity and inclusion, employment equality).
Recommendations on Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management Consultation ReportView consultation paper