Scope and rationale
ISO/TC 322 is the technical committee responsible for the development of ISO standards relating to sustainable finance. Sustainable finance is considered by ISO/TC 322 to mean financing, as well as related institutional and market arrangements, that support progress to achieving the United Nations (UN) Sustainable Development Goals (SDGs) and addressing climate change.
We look to integrate sustainability considerations including environmental, social and governance (ESG) practices in all aspects of financing economic activities.
The stakeholders involved in the field of sustainable finance include all those participating in any location(s) in the financial ecosystem from both the supply and demand sides of the financial market.
Our sustainable finance standards will anticipate and facilitate the trend towards a more balanced sustainable approach competent in meeting environmental, social, and governance goals in even measure.
Our work program will cover three sets of standardisation activities:
- Setting principles and framework standards applicable to the whole financial system to set out high-level principles for sustainable finance to guide the operations of financial institutions, and frameworks to give a structure and context for the development and role of specific standards, whether developed by ISO or the wide range of other industry bodies who are involved in such activities.
- A set of technical standards that contribute to sustainable finance taxonomies, impact assessment requirements, disclosure requirements including covenants, verification, and stewardship, for each of the major financial products including green, social and sustainable loans, bonds, funds, derivatives, insurance, private equity, and listed stocks. This work is being designed to fill gaps and contribute to the production of consistent methodologies as standardization matures across the field of sustainable finance.
- Harmonizing understanding and language.
Value to users
Our work is designed to enable member countries to finance delivery of the UN SDGs at faster pace, lower cost and reduced risk, whilst exposing financial organizations to the value of the international standardization process.
Our standards apply to a wide range of stakeholders involved from across the financial sector.
The Sustainable Finance Ecosystem (SFE)
As at 24 June 2021, TC322 has 24 Participating and 17 Observer members, together with 11 external liaison organizations and internal liaisons with other ISO technical committees.
Current standards under development
Want to get involved?
Standards are developed by the people who need them – that could mean you. Technical committees include experts from both standard-makers and industry specialists and these experts are put forward by ISO’s national members. If you want to help shape future standards in your field, contact your national member, or email the Committee Manager, Mike Henigan.
Find out more on the TC322 YouTube channel.
Go to the TC322 YouTube channel