Three new UK-led, internationally relevant PASs (two currently under development and a third in planning) to target issues and areas where the biggest impact would be achieved. These were determined on the back of wide stakeholder engagement and scoping exercises carried out in 2018.
These PAS scopes and content are anticipated to help inform the work being undertaken by ISO/TC 322.
PAS 7340, Framework for embedding the principles of sustainable finance in financial services organizations – Guide
The PAS is setting out a framework and offering guidance on implementing principles and approaches to sustainable finance within organizations. It aims to provide a common terminology and set of principles for financial services organizations to help align their activities with the UN SDGs, and other sustainability initiatives. It is intended to be used by financial services organizations of any size and type, and may be particularly useful to small and medium-sized organizations.
See how financial organizations have embedded the principles of PAS 7340 here.
PAS 7341, Responsible and sustainable investment management – Specification
This PAS will be a set of requirements to establish, implement and manage the process of integrating ESG and sustainability considerations into investment management. It is intended to be used by anyone managing investments directly including investment management firms (e.g. fund/asset managers) and investment consultants and intermediaries in organizations of any size, as well as asset owners.
PAS 7342, Product Fund (in planning)
A third PAS on sustainable finance products and funds is proposed and in the early planning stage. Further information on what a PAS is and how to get involved is available here.
If you are interested in being involved in the development of any of these project please either contact us directly or visit our Standards Development Portal to know when the drafts are available for comment during a 4 week public consultation.