The Egypt Financial Regulatory Authority (FRA) reported on a meeting of the IOSCO Growth and Emerging Markets Committee (GEMC) Network that it chaired, focused on supporting emerging markets’ adoption and implementation of International Sustainability Standards Board (ISSB) sustainability disclosure standards. The network is a strategic partnership between IOSCO’s GEMC and the ISSB under the IFRS Foundation, designed to strengthen sustainability reporting in capital markets. As GEMC Chair and an IOSCO Vice-Chair, FRA Chair Mohamed Farid welcomed new members to the network: the Bermuda Monetary Authority and the financial regulators of Colombia, El Salvador and Peru. The meeting covered progress since the network’s launch in December 2024, IOSCO capacity-building programmes to facilitate implementation in emerging markets, and ISSB updates on its work plan and adoption support tools, including a roadmap development tool and a new technical support programme; the World Bank also outlined its role in technical assistance and capacity building. Regulators including those from the Bahamas, Qatar, Cambodia, Indonesia and Uruguay shared national experience in developing adoption roadmaps and lessons learned, while Farid highlighted that applying sustainability disclosure practices beyond listed companies remains a key challenge given differing regulatory frameworks for listed and unlisted firms. IOSCO, in cooperation with the World Bank and the IFRS Foundation, will run two workshops in June and September in Morocco and Montenegro to support the development of adoption roadmaps across Africa, the Middle East and Europe. The next GEMC Network meeting is scheduled to coincide with the committee’s annual meeting in Malta in November, alongside an open invitation for additional GEMC members to join the network.
Egypt Financial Regulatory Authority 2025-05-14
Egypt Financial Regulatory Authority expands IOSCO-ISSB sustainability disclosure network and schedules 2025 roadmap workshops
The Egypt Financial Regulatory Authority (FRA) chaired a meeting of the IOSCO Growth and Emerging Markets Committee (GEMC) Network, focusing on adopting International Sustainability Standards Board (ISSB) disclosure standards in emerging markets. The meeting discussed progress since the network's launch, capacity-building programs, and ISSB's support tools, with contributions from new members and various regulators. Upcoming workshops in Morocco and Montenegro aim to aid roadmap development, with the next GEMC Network meeting in November in Malta.