The voluntary code focuses on promoting transparency, good governance, management of conflicts of interest, and strengthening systems and controls in the sector
The report, published by London think tank Positive Money, calls for a revision of the companies included in the Bank of England’s collateral framework
The Global Principles for Sustainable Íø±¬³Ô¹Ï Lending indicated that RISCMTP-Notes could play a ‘positive role’ in delivering strong sustainability outcomes in securities and collateral transactions
This draft voluntary code responds to demands for tighter scrutiny of ESG ratings and data products, recognising the importance that ratings agents and data providers are playing in supporting sustainable investment
The product will provide screening of securities collateral against climate metrics supplied by Deutsche Börse subsidiary ISS, while also evaluating sustainability credentials of counterparties
The initiative reflects GASLA’s commitment to provide market participants with a practical framework for evaluating securities lending in the context of financial institutions’ ESG policies