EU regulators push for revisions in landmark ESG rulebook
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/06/Depositphotos_73537517_S.jpg)
Regulators overseeing the markets, banking, and insurance sectors urged the European Commission in their joint ESA opinion document on Tuesday to revise the Sustainable Finance Disclosure Regulation.
Europe’s ESG regulatory framework, regarded as the global standard for sustainability disclosure requirements, continues to face resistance from the regulators responsible for implementation.
The European Supervisory Authorities (ESAs) are advocating for distinct labels that clearly define insurance, pension, and investment funds.
This initiative aims to enhance transparency and enable customers to easily compare products marketed under environmental, social, and governance (ESG) principles.
Also read: ESG funds and sustainable investing outperform traditional funds, report says
In their opinion, “Subject to consumer testing, such an indicator could group products according to how sustainable the investments are while also identifying which products foster the transition,” the regulators said.
The opinion addresses a key debate surrounding SFDR; the definition of a sustainable investment.
The current broad definition accommodates diverse ESG strategies but complicates product comparisons. Regulators are urging the commission to establish stricter requirements to clarify this issue.
The regulators said a “coherent sustainable-finance framework” is needed to protect investors. SFDR must also “enhance retail investor’s trust, confidence and participation in financing the economy.”
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/30341f8d-32ff-4c5a-ad4e-dcdb01497bd9-150x150.jpg)
EIB Global supports €271 million Egyptian climate and...
-
During the EU-Egypt Investment Conferenc...
- 02/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/Asset-Management-150x150.png)
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/06/Depositphotos_73537517_S-150x150.jpg)
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
Iberdrola, a Spanish renewables company, announced that it has acquired the “80% it did not control of Balantia”. Iberdrola had initially entered the firm’s capital […]
Japan’s largest steelmaker, Nippon Steel and trading house, Sumitomo Corp, announced that they have renewed a long-term contract with Norway’s Equinor to supply seamless steel pipes […]
Cepsa announced that it has entered a strategic partnership with PreZero Spain to advance objectives related to decarbonization. According to the agreement, PreZero Spain will […]
In a new critique of the voluntary carbon market, over 80 non-governmental organizations have urged corporations to exclude carbon offsets from their transition plans, arguing […]
Luxcara, an independent German asset manager for clean energy infrastructure projects, announced that it has signed a “preferred turbine supplier”. The asset manager has signed […]
Genex Power announced that it has secured a five-year $107 million senior debt facility for its 50MW Kidston and Jemalong solar projects in Australia. The […]