Considering that one of the major issues is the lack of a common definition of sustainable investments, it necessary to link how asset managers define sustainable investments with the taxonomy-compliant activities in order to avoid any regulatory divergences
This document contains the response of
BETTER FINANCE to the European Commission’s online survey (public
consultation) concerning the consultation on the renewed sustainable
finance strategy.
BETTER FINANCE considers that the regulation on disclosures relating
to sustainable investments and sustainability risks and amending
Directive (EU) 2016/2341 is extremely important to clarify fiduciary
duties and increase the transparency of the disclosure of sustainability
risks. However, in order to be effective, the disclosure regulation
needs to be harmonised with the taxonomy regulation and the
non-financial reporting directive. Considering that one of the major
issues is the lack of a common definition of sustainable investments, it
necessary to link how asset managers define sustainable investments
with the taxonomy-compliant activities in order to avoid any regulatory
divergences. In this regard, we advise to strengthen this link in the
draft of Regulatory Technical Standards (RTS).
Better Finance
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