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CFA defends plans to create global standards for ESG

The CFA Institute says that it will not back down on efforts to create a global standard for ESG investing. A lot of markets haven't even started contemplating regulations for ESG disclosures yet. "It's our responsibility to provide guidance to them on how to tackle this ethical challenge," CFA's senior director tells the Financial Times.

The CFA Institute has been forced to defend its efforts to create a global standard for environmental, social and governance investing after a number of large asset managers criticized the initiative, reports the FT.com.

The CFA plans to issue the next draft of its voluntary standard in May 2021 and believes its experience with the development of widely used global investment performance standards, known as GIPS, means it is well situated for becoming a global ESG standard-setter.

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