Moreover, the interaction between private and public sectors will evolve as we make progress towards our common goal – standardization of reporting. The ISSB’s standards will provide a good starting point for the development of standardised regulatory reporting requirements by supervisors and regulators.
Such information will also provide supervisors and regulators with the insights, in a common format, they need to understand the implications for systemic risk. And to build the necessary regulatory tools to address this. There is a lot of work to be done and a pressing need to move forward. Coordination on regulatory approaches will be key.