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Keynote speech by the Chairman of the FSMA at a high-level conference on sustainability reporting organized by the European Commission

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On Wednesday, 6 May 2021, Jean-Paul Servais, Chairman of the FSMA and Vice Chair of IOSCO, gave a speech at a major conference of more than 2000 participants, organized by the European Commission and titled “High-level conference on a Commission proposal for a Corporate Sustainability Reporting Directive – the way forward”.

A considerable number of leading figures of the economic and financial world, including Madame Christine Lagarde, President of the European Central Bank, Valdis Dombrovskis, Vice president of the European Commission, European Commissionner Mairead McGuinness and several Ministers from EU countries attended the event. This international conference focussed amongst other things on the European Commission’s proposal for a Corporate Sustainability Reporting Directive (CSRD). The text is intended, notably, to improve the disclosure by a great numer of European companies of sustainability information. 

Several participants spoke at the conference, and discussion panels were held. Jean-Paul Servais, Chairman of the FSMA, gave a keynote speech in which he highlighted the role of the financial sector in the transition to a more sustainable economy. In this regard, he noted the importance, both for investors and for society as a whole, of having access to reliable and clear information about sustainability. As Vice Chair of IOSCO, the international organization of securities commissions, and as Chair of the Monitoring Board – the body responsible for advancing the public interest in areas related to the international standards governing company reporting – he emphasized the crucial importance of close cooperation among the various national, European and international authorities, stressing the significant role of the IFRS Foundation, supported by IOSCO and the FSB, in collaborating on setting international standards for sustainability reporting.