EU Archives

EU taxonomy plan for nuclear sparks controversy

The European Commission is in talks to classify nuclear energy and gas as green investments in its new sustainable taxonomy.

EU Council approves green taxonomy criteria

The first two chapters of the EU’s sustainable taxonomy rules have been passed by member states and will come into force at the start of next year.

EU seeks experts for sustainability review

The European Financial Reporting Advisory Group (EFRAG) is seeking appointees for 11 new industry groups to assist with a review of the bloc’s sustainability reporting standards.

Directors survey: National corporate governance codes need local adaption

National corporate governance codes need to be adapted to take account of the challenges that exist when companies have dominant shareholders or small groups of shareholders collectively have a dominant share of the total shareholder vote according to a survey of directors conducted by the accountancy firm Mazars, the international accountancy and advisory firm, and the […]

EU’s Expert Group makes final sustainable finance recommendations

The EU’s High-Level Expert Group (HLEG) on Sustainable Finance, set up by the European Commission in December 2016, has produced its final recommendations. The Commission has pledged that these proposals will form part of its sustainable finance action plan that will be discussed at a conference in Brussels in March. The HLEG made recommendations across […]

EU: Luxembourg gave illegal tax benefits to Amazon

The European Commission has ruled that global online retailer Amazon must repay €250 million in illegal state aid that was granted to it by Luxembourg as tax benefits. The Commission stated that under a rule adopted by Luxembourg Amazon paid substantially less tax than other businesses. The Commission launched its investigation in October 2014 which has found […]

EU’s Sustainable Finance Group produces early recommendations

The EU’s High-Level Expert Group on Sustainable Finance, established by the European Commission, has published its interim report and made early recommendations to move Europe towards a low carbon, more resource-efficient and sustainable economy. The Commission said that this report is part of its broader efforts to map out a strategy on sustainable finance, which formed […]

EU Shareholder Rights Directive II moves closer to adoption

The revised EU’s Shareholder Rights Directive was approved by the European Parliament (EP) earlier this week and will be formally adopted by the European Council, made up of the member states, shortly. Once adopted member states have two years to put the directive into effect in their own countries. The main changes to the existing shareholder […]

EU: Shareholder Rights Directive Mk II

The EU’s council of permanent representatives has endorsed an agreement between the Slovakia, which holds the presidency of the European Council, and the European Parliament that agrees revisions to the second Shareholder Rights Directive. Lucia Žitňanská, Minister for Justice of Slovakia said: “The financial crisis revealed that in many cases shareholders supported excessive short-term risk-taking by managers. […]

IORPII approval gives welcome boost to ESG

The European Parliament has backed the introduction of the Institutions for Occupational Retirement Provision Directive (IORPII). One of the requirements of the new directive is for European occupational pensions to consider environmental, social and governance (ESG) issues. Responsible investment group ShareAction has welcomed the EP’s support for the directive which was passed last week following an agreement in the summer […]