On June 26, 2023, the International Sustainable Standards Board (ISSB) launched the IFRS Sustainability 1 (general requirements standard) and the IFRS Sustainability 2 (climate standard) to align and foster sustainability-related disclosures at a company level in capital markets around the globe. For those who have expected a further standard to classify companies with regard to their sustainability or to receive some kind of rating, the release of the new standards might have been a disappointment. That said, the ISSB Standards had, like the SFDR regulation, never had the purpose to be used to classify or rate a company. The ISSB

The International Organization of Securities Commissions (IOSCO) plans to publish its first regulatory guidance for raters of corporate environmental, social, and governance (ESG) performance. It is doing this to stem growing concerns among asset managers about overstated green credentials. This announcement is in line with the IOSCO Board Priorities – Work Program 2021 – 2022, where IOSCO stated that it will contribute to the goal of improving the completeness, consistency, and comparability of sustainability reporting by delivering respective reports on sustainability-related disclosures for asset managers (including greenwashing) and issuers, ESG ratings, and ESG data providers. The IOSCO board has identified