Green forest
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The International Organization of Securities Commissions’ (IOSCO) Sustainable Finance Task Force will focus on evaluating the proposed climate risk disclosure requirements put forward by the International Sustainability Standards Board (ISSB), as well as on developing viable carbon markets, according to the task force’s new head.

The chair of the Spanish Securities Market Commission (CNMV) and the new chairman of IOSCO’s Sustainable Finance Task Force, Rodrigo Buenaventura, said the task force will lead the process of determining whether the ISSB’s recommendations can serve as a global standard for climate disclosures.

The task force also will drive IOSCO’s work to develop recommendations for functional carbon markets, plus promote independent oversight of corporate sustainability disclosures.

“IOSCO is determined to put in place the necessary ecosystem so that financial markets can play their part in supporting the transition to net zero,” said Buenaventura, in a release. “There is intense demand from investors to be able to invest in assets which make a contribution to that transition and we will continue to push ahead firmly with our ambitious agenda to make that feasible.”

Buenaventura was formerly vice-chair of the IOSCO task force. He also was a member of the Financial Stability Board’s standing committee on standards implementation, of the European Securities and Markets Authority’s (ESMA) board, and chair of ESMA’s standing committees on market integrity and investor protection.