2026 Guide | AI in Financial Services
Company News

Clarity AI Announces its Intention to Apply the ICMA and IRSG Code of Conduct for ESG Data and Rating Product Providers

Published: February 5, 2024
Modified: February 5, 2024

[code_snippet id=52 php]

The industry-led working group launched in December a voluntary code of conduct, building on IOSCO’s recommendations

The International Capital Market Association (ICMA) and the International Regulatory Strategy Group (IRSG) were appointed in 2022 by the UK Financial Conduct Authority (FCA) to convene an industry group to develop a Code of Conduct for ESG Ratings and Data Products Providers.

The code builds on IOSCO’s 2021 Recommendations for ESG Ratings and Data Products Providers, similar to what the Japanese Financial Services Agency (JFSA) did in late 2022. Clarity AI already announced its support for IOSCO recommendations as part of its JFSA endorsement.

As well as feeding into the consultation in July 2023, Clarity AI’s Chief Sustainability Officer, Lorenzo Saa, and Regulatory Lead, Tom Willman, attended the launch of this new Code of Conduct by the ICMA and the IRSG at the London Stock Exchange on  January 31st.

During the presentation, held minutes before the market open, representatives from IOSCO and ICMA emphasized the key requirements sustainability information must have for market participants to effectively use it in decision-making. Clarity, transparency, and good governance were some of the attributes mentioned, fully aligned with Clarity AI’s values and mission. This is why Clarity AI formally announced its intention to apply the code.

Clarity AI is closely monitoring the latest regulatory initiatives related to the regulation of ESG data and rating providers and is supportive of the general direction of these initiatives.

Research and Insights

Latest news and articles

Market Insights

How Investors Are Navigating Geopolitical Risk

Geopolitical risk has always been priced into investment decisions, but rarely has it demanded a rethink of the assumptions beneath them. Today it does. The question facing long-term investors is no longer whether geopolitical events move markets. It is whether the frameworks built over decades to guide portfolio construction, exclusion policy, and asset allocation still…

ESG Risk, Gender Equality

The diversity say-do gap: Two-thirds of companies with discrimination violations also claim diversity initiatives

June is a month when corporate communications are filled with Pride messaging, diversity commitments, and inclusion statements. But beyond the visibility of these declarations, a more complex question remains: do these commitments consistently align with companies’ actual conduct? At Clarity AI, we looked at whether companies with active discrimination controversies in practice also publicly emphasize…

Climate

The physical risk gap: What today’s datasets are missing

Access to physical risk data is no longer the problem. Most asset managers who need it have it. Far fewer have data that holds up when it matters: under regulatory scrutiny, in client reporting, or when trying to act on it. Taking place in the heart of the climate week season, after Zurich and London,…