SOMO comments on the issue of ESG ratings

SOMO has provided input for IOSCO’s consultation, and raised some overarching concerns regarding more systemic problematic issues surrounding ESG ratings and the companies’ long term impacts on planet and people. IOSCO (and the OECD) have framed the challenge as being to make the ESG products better. There are, however, more fundamental questions about the risks involved in developing a range of financial market products. SOMO’s submission to IOSCO can be found here.