On March 7, 2023, the ISDA ESG Forum commenced with introductory remarks and a welcoming address from the Chief Executive Officer of ISDA, Scott O’Malia.

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The International Swaps and Derivatives Association (ISDA) has highlighted the importance of financial markets, including derivatives, in the transition to a low-carbon economy. While investment in the global energy transition reached a record $1.1tn in 2022, up 31% from the previous year, this is still well short of the trillions needed to achieve net-zero emissions by 2050. The voluntary carbon market could be one solution to closing the funding gap, while standardisation and transparency are critical to ensuring growth and addressing concerns such as greenwashing. To help establish standards, ISDA has developed template documentation for spot, futures and options trades based on its 2022 ISDA Verified Carbon Credit Transactions Definitions. ISDA is also working on the development of standardised clauses for sustainability-linked derivatives.

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