One of the world’s largest asset managers has backed calls for global standard setter the International Organisation of Securities Commissions (IOSCO) to play its role in ensuring the usefulness of climate risk reporting for global investors. IOSCO was “ideally placed” to accelerate progress on climate risk reporting, according to Meryam Omi, head of sustainability and responsible investment strategy at €1.1 trillion Legal & General Investment Management (LGIM). In a foreword to a report produced by activist law firm ClientEarth, think tank CarbonTracker, and conservation campaign group WWF, Omi called for other investors to encourage IOSCO to act to harmonise climate risk reporting. “IOSCO has remained silent on this issue since the release of the [Taskforce on Climate-related Financial Disclosure] recommendations – but investors have a strong basis for demanding action either through activating national securities regulators to engage with IOSCO on their behalf, or through engaging IOSCO directly,” she said.

Posted by

IPE