On January 15, 2023, South Korea’s Financial Supervisory Service (“FSS”) issued new guidelines (the “Guidelines”) (Korean language only) to enhance transparency on the methods and procedures used by credit rating agencies to perform ESG bond certification evaluations. In announcing the Guidelines, the FSS noted that, prior to their introduction, there were

In response to known challenges concerning ESG evaluation and data provision, including transparency and fairness of evaluation, and the expanding  role of organizations which provide these services, Japan has compiled a draft Code of Conduct for ESG Evaluation and Data Providers. The draft Code was published in July 2022 and can be read here.