ICI Statement on IOSCO Sustainable Investment Report

Washington, DC; November 2, 2021—Investment Company Institute (ICI) President and CEO Eric J. Pan issued the following statement today on the International Organization of Securities Commissions’ Final Report on Recommendations on Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management.

“We applaud IOSCO’s work in addressing the challenges associated with the growth of ESG investing and sustainability-related products. This report highlights the importance of investor protection and provides a roadmap to help policymakers increase information available to retail investors. While we are broadly supportive of the report, we are concerned that some of the recommendations are overly prescriptive and risk leading to boilerplate disclosures that will be less helpful to investors than they otherwise could be. ICI believes a flexible approach would facilitate more meaningful disclosures.”