EFAMA sees the European Commission’s proposal for the creation of a European Single Access Point (ESAP) as a crucial step in addressing the limited availability and scattered nature of financial and sustainability-related entity information at EU level.
Tanguy van de Werve, Director General of EFAMA, commented: “The
consolidation of publicly disclosed financial and ESG company
information in a single place would greatly contribute to the
integration of EU´s capital market and save investors’ time and
resources, notably by giving them free access to such data in a
structured, comparable and machine-readable format.”
investors face significant difficulties in accessing and using the
information disclosed under the 37 legislative frameworks covered by the
ESAP’s proposed scope. Only 5% of the reporting obligations in the
financial area are effectively machine-readable.
Dominik Hatiar, Regulatory Policy Advisor at EFAMA, commented further: “While
we understand the rationale for a gradual launch of the ESAP between
2024 and 2026, immediate priority should be given to the centralisation
of ESG company data disclosed under the CSRD and the Taxonomy. This will
enhance the ability of investors to assess the ESG performance of
companies, resulting in new funding opportunities and stronger
incentives for companies to become more sustainable.
this context, EFAMA welcomes the fact that the ESAP proposal allows
voluntary filings by non-listed companies, SMEs, and non-EU companies.
This will attract capital to voluntarily filing entities and, if
disclosed against the EU Taxonomy, also enhance the investible universe
and diversification of financial products targeting high alignment with
the EU Taxonomy.
appreciates that the proposal embeds the ‘file only once’ principle and
avoids the duplication of reporting requirements. It will be important
that the ESAP does not require the provision of information which is not
subject to public distribution, such as information communicated
confidentially to investors.
will analyse the European Commission’s proposal in more detail in the
coming weeks, and the association will keep engaging in
a constructive and open dialogue with the European Commission and the
co-legislators to ensure a successful launch of the ESAP in 2024.
© EFAMA - European Fund and Asset Management Association
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