IOSCO expands focus with new workstreams on AI and green finance

Posted on April 21, 2024 by Editor

In response to evolving challenges in the financial landscape, the International Organisation of Securities Commissions (IOSCO) has unveiled its updated work plan for 2024. This revised plan introduces fresh initiatives aimed at addressing emerging trends, including, among others, artificial intelligence (AI) and green finance.

Jean-Paul Servais, Chair of the IOSCO Board, emphasised the organisation’s commitment to adapt its agenda to tackle key issues facing investors and financial markets. The updated work plan reflects IOSCO’s proactive approach in enhancing investor protection, ensuring market integrity, and promoting financial stability.

IOSCO is embarking on a two-year policy initiative to address the challenges and risks posed by emerging AI technology. This effort aims to ensure a shared understanding among IOSCO members and to assist in formulating policy responses. Additionally, IOSCO will monitor the implementation of its recommendations on crypto-assets, digital assets, and decentralised finance (DeFi).

Another new work stream focuses on identifying trends and potential risks associated with new green financial products. IOSCO’s engagement with the ISSB (International Sustainability Standards Board), finalisation of work on voluntary carbon markets, and review of proposed assurance and ethics standards underline its commitment to fostering sustainable finance practices.

With the uptake of emerging AI technologies and a growing focus on sustainability data in financial markets, we’re pleased to see IOSCO recognising the impact of these areas and integrating them into their work to safeguard the resilience of financial markets.

Read more here.

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