EU regulators push for revisions in landmark ESG rulebook
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.”
World Bank invests additional $1.5 billion to boost...
-
The World Bank’s Board of Executive Di...
- 01/07/2024
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Financial firms rally for treaty to combat plastic...
Ahead of the upcoming fourth meeting of the Intergovernmental ...
- 19/04/2024
Related News
DHL Express announced that it has signed an agreement with the Bank of Philippine Islands (BPI). The partnership aims to reduce DHL’s annual greenhouse gas […]
Iberdrola announced that its €1 billion Windanker project in Germany has reached the delivery phase. All associated supply chain contracts for major components are secured […]
A team of eco-gamers known as Serious People has developed a video game titled “Asset Manager Quest” to encourage investment firm ‘Abrdn‘ to divest from […]
Gunvor Group, a prominent energy commodities trading company, has announced a partnership with Quercus Real Assets Limited, a specialist in international renewable investments focused on […]
The World Bank’s Board of Executive Directors announced that it has approved $1.5 billion in financing for a second operation to help India accelerate the […]
The Australian Renewable Energy Agency (ARENA) announced that it has conditionally approved up to $143 million to support the deployment of approximately 370 community batteries […]