MAS launches code of conduct for ESG rating and data product providers

It also published a checklist for providers to self-attest their compliance with the code.

The Monetary Authority of Singapore (MAS) has published the Code of Conduct (CoC) for ESG rating and data product providers.

“The CoC aims to establish baseline industry standards for transparency in methodologies and data sources, governance, and management of conflicts of interest that may compromise the reliability and independence of the products,” the MAS said.

The code builds upon the International Organisation of Securities Commissions’ (IOSCO) recommendations for good practices for such providers. 

The MAS likewise published a checklist for providers to self-attest their compliance with the code.

MAS encouraged providers to disclose their adoption of the CoC and publish their completed Checklist within 12 months from publication of the CoC. 

MAS will host a list of compliant providers on the International Capital Market Association’s (ICMA) website, which users can check.