New Examination Procedures for Global Disclosure

New York City, United States 21 Feb 2023

CFA Institute, the global association of investment professionals, announces the issuance of the voluntary Examination Procedures for the Global ESG Disclosure Standards for Investment Products (the “ESG Examination Procedures”).

The ESG Examination Procedures support the Global ESG Disclosure Standards for Investment Products (“ESG Disclosure Standards”) by providing guidance to independent third parties for providing assurance on the design and implementation of the policies and procedures underlying an investment product’s ESG approaches for compliance with the ESG Disclosure Standards, thereby improving the consistency and quality of information provided to investors.

An examination of a firm’s ESG Disclosure Statement is intended to provide an investment manager and investors additional confidence in the investment manager’s claim that a particular investment product’s ESG Disclosure Statement complies with the disclosure requirements of the ESG Disclosure Standards. Independent examination brings additional credibility to the claim of compliance and supports the overall ESG Disclosure Standards guiding principles of fair representation and full disclosure for an investment product’s ESG disclosures.

The release follows an industry-wide consultation to create ESG Examination Procedures that qualified independent examination firms may use when conducting an examination of an investment manager’s ESG Disclosure Statement for an investment product.

Notes to Editors

Examination firms are auditing, consulting, and other firms that have a high degree of knowledge regarding the investment management industry. Examination firms must follow any applicable professional guidance and standards of practice within their industry when performing an examination of an investment manager’s ESG Disclosure Statement, including following any applicable regulatory requirements.

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 190,000 CFA charterholders worldwide in 160 markets. CFA Institute has nine offices worldwide and 160 local societies. For more information, visit www.cfainstitute.org or follow us on Linkedin and Twitter at @CFAInstitute.

Media Contact: CFA Institute Corporate Communications - [email protected]