IOSCO appoints Rodrigo Buenaventura as Chair of its Sustainable Finance Task Force

The International Organization of Securities Commissions (OISCO) has appointed Rodrigo Buenaventura Chair of its Sustainable Finance Task Force (STF). 

As STF Chair, Mr. Buenaventura will lead IOSCO through the process of evaluating whether the IFRS international Sustainability Standards Board (ISSB) can act as a global baseline standard for climate disclosures. Mr. Buenaventura will also lead IOSCO through the finalisation of its work on carbon markets, seeking to establish recommendations for the sound functioning of these markets. He will also lead work on promoting independent assurance of corporate sustainability disclosures.

Rodrigo Buenaventura commented: “I am honoured by the confidence of my fellow IOSCO Board members in asking me to lead this critical work. IOSCO is determined to put in place the necessary ecosystem so that financial markets can play their part in supporting the transition to net zero. There is intense demand from investors to be able to invest in assets which make a contribution to that transition and we will continue to push ahead firmly with our ambitious agenda to make that feasible.” 

The appointment that took place today reflects the importance that the CNMV gives to the development of sustainable finance and its leading role in international regulations in the sector. Since 2020, Buenaventura has been Vice Chair of the committee which he will now head, and Vice-Chairwoman, Montserrat Martínez Parera, heads the Sustainability Committee of the European Securities and Markets Authority, ESMA. 

Rodrigo Buenaventura, appointed vice-chairman of the OECD Corporate Governance Committee

In addition, the chairman of the CNMV has been appointed vice-chairman of the OECD Corporate Governance Committee. The current chairman, Masato Kanda, Vice Minister of Finance of Japan, will continue to hold office. 

Among the functions of the OECD Corporate Governance Committee is the coordination of the Organisation’s work regarding corporate governance, corporate finance and state-owned companies, while supervising the implementation of the G20/OCDE Corporate Governance Principles and the Guidelines on Corporate Governance of State-Owned Enterprises. Likewise, it supports the dialogue with non-OECD members on corporate governance. The Committee holds Regional Roundtables on Corporate Governance with Asia, Latin America and the Middle East and North Africa.

Currently and after the support shown by the OECD ministers and the G20 leaders, the Committee is reviewing the G20/OCDE Corporate Governance Principles, a review that began in November 2021 and will conclude in 2023. These principles guide the member countries in terms of their own Corporate Government regulations or recommendations. In Spain they are reflected in the Code of Good Governance for Listed Companies endorsed and promoted by the CNMV.