On March 11, 2022, ISDA and the Association for Financial Markets in Europe submitted a joint response on the European Securities and Markets Authority’s (ESMA) call for evidence on environmental, social and governance (ESG) ratings. The associations highlight the importance of avoiding a fragmented approach to regulatory requirements on ESG ratings, noting a report by the International Organization of Securities Commissions on ESG ratings and data product providers should serve as a common baseline on the international level. In the response, the associations highlight that shortcomings on transparency of methodologies and data sources remains a key concern for users of ESG ratings, while regulatory requirements on ESG ratings should not cover ESG products, such as ESG index products.
ESMA is expected to share the stakeholder feedback with the European Commission, which may launch a complementary consultation on ESG ratings.
Documents (1) for ISDA and AFME Respond to ESMA Call for Evidence on ESG Ratings
Latest
Credit Derivatives Trading Activity Q3 2025
This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...
Striking a Balance on EU Market Risk Capital
With US prudential regulators poised to publish a revised Basel III endgame proposal this year, and EU and UK regulators moving to finalize their own rules, ISDA is maintaining a laser focus on achieving a risk-appropriate capital framework that is...
Episode 53: The IOSCO Agenda
Global policymakers are focused on a wide-ranging set of issues, including NBFI and the rapid development of advanced technologies. IOSCO secretary general Rodrigo Buenaventura unpacks the regulatory agenda. Please view this page via Chrome to access the recording.
ISDA In Review – December 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in December 2025.