New international guidance has been published today to help create a common language in the sustainable finance market.
ISO/TR 32220, Sustainable Finance – Basic Concepts and Key Initiatives, provides the first internationally agreed glossary of terms and definitions that the whole world can use to enhance understanding and uptake in the industry.
The technical report features a non-exhaustive list of terminology commonly used in financial markets, intended to guide financial regulators, banks, asset managers, investors and researchers.
Bolu Wang, convenor of the group of experts that developed the guidelines, said the TR will help readers with different backgrounds understand the fundamental building blocks of the sustainable finance system.
“The terms in the glossary represent global consensus on what is currently widely acceptable, providing a valuable tool for collaboration and growth in the industry,” she said. “In this way, it will help to accelerate convergence of global efforts to deliver sustainable finance. It is just the first of many initiatives we have in this field, as we work with more and more experts to track the evolution of multiple key topics to identify areas for future standards.”
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