Strengthen Data and Disclosures: Code of Conduct for ESG Rating and Data Product Providers

Consistent, comparable and reliable sustainability data is needed to assess, manage and monitor climate opportunities and risks, and safeguard against greenwashing risks.

To establish baseline industry standards for transparency in methodologies and data sources, governance and management of any conflicts of interest that may compromise the reliability and independence of the products, the Monetary Authority of Singapore published the Singapore Code of Conduct for ESG Rating and Data Product Providers in December 2023.

The Code also encourages providers to disclose how forward-looking elements – which can aid investors’ assessments of investee responses to transition risks and opportunities – are considered in their ESG ratings and data products. Providers are encouraged to publicly disclose their adoption of the Code with the Self-Attestation Checklist within 12 months of the Code’s publication. A list of such providers is available on the International Capital Market Association’s website.