The SFC has announced their support for the development of a Voluntary Code of Conduct (VCoC) for ESG ratings and data products providers. The VCoC will be created by an industry-led working group, with the International Capital Market Association (ICMA) acting as the Secretariat. It aims to enhance transparency and reliability of ESG information and mitigate greenwashing risks. The proposed VCoC aligns with international best practices and will provide a consistent basis for asset managers to assess ESG service providers.
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