The International Organization of Securities Commissions, or IOSCO, published a statement setting out the importance for issuers of considering the inclusion of environmental, social and governance, or ESG, matters when disclosing information material to investors’ decisions.

According to IOSCO, issuers are encouraged to consider the materiality of ESG matters to their business and to assess risks and opportunities in light of their business strategy and risk assessment methodology. When ESG matters are considered to be material, issuers should disclose the impact or potential impact on their financial performance and value creation.

IOSCO believes that information disclosed outside of securities filings following a voluntary disclosure framework may also be required to be disclosed under security filings if it is material. Although some information is disclosed following a voluntary disclosure framework, that disclosure should not substitute for disclosure in regulatory filings, if material, according to the published statement.

IOSCO is an international body that brings together the world’s securities regulators. The United Stated Securities and Exchange Commission did not vote on publication of the statement.