The Chartered Financial Analyst (CFA) Institute has urged the European Union (EU) to address the challenge of unreliable ESG data and mitigate greenwashing risks in its ESG regulatory framework.
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European Regulators Call for Stricter Supervision to Combat Greenwashing June 5, 2024 The EU’s three primary financial services regulators have called for improved supervision and market practice to enhance the integrity of sustainability-related claims in the financial sector. The European Banking Authority (EBA), European Securities and Markets Authority (ESMA) and European Insurance and Occupational Pensions […]
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EU diverges from UK on stewardship disclosures January 3rd, 2023 European regulations could deviate from UK rules on stewardship disclosures following responses to a consultation on the EU’s Sustainable Finance Disclosure Regulation (SFDR). Asset manager DWS called for greater disclosures on the “quality and quantity” of stewardship engagement in its response to the consultation, Responsible […]
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The European Commission has introduced a series of proposed changes aimed at easing the burden on companies falling under the newly-widened remit of the European Sustainability Reporting Standards (ESRS).
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EU votes to ban unsupported carbon neutral claims May 17, 2023 The European Parliament has voted to support a proposed ban on environmental claims that are based solely on carbon offsetting schemes. The ‘Directive on Green Claims’ would prohibit companies from using generic labels such as “environmentally friendly” or “carbon neutral” without detailed evidence. The […]
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Proposed legislation will hold financial services firms based in or operating in the EU accountable for human rights and environmental violations in their value chain.
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The European Commission (EC) has amended guidance to clarify how to interpret the Sustainable Financial Disclosure Regulation (SFDR).
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ES issues gaining more support from female fund managers February 10, 2023 Female fund managers support environmental and social (ES) proposals more than governance proposals, according to the European Corporate Governance Institute (ECGI). ‘The Voting Behaviour of Women-Led Mutual Funds’ report revealed ES proposals are 17% more likely to receive support from women-led mutual funds. […]
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Stakeholder group flags issues with EU Taxonomy January 27, 2023 The European Securities and Markets Authority (ESMA) has been urged to clarify the label and scope of Article 8 and Article 9 products. In a letter, the Securities and Markets Stakeholder Group (SMSG) has advocated for a clearer definition of Article 8 and Article 9 […]
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Large European and non-European companies will be required to report on sustainability issues as the European Council and European Parliament have agreed on more detailed sustainable reporting requirements.
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