PensionsEurope input to EC consultation on ESG ratings
08 June 2022
... welcomes the consultation, shares many of the Commission’s concerns, and welcomes the Commission’s further work to improve the ratings and the functioning of the market;
In its input to European Commission’s consultation on ESG ratings, PensionsEurope e.g.:
- stresses that the current main challenges for pension funds are
related to ESG data, as there is clearly a lack of reliable and accurate
ESG data, which pension funds need to report under the SFDR;
- proposes to adopt a holistic and coordinated regulatory approach to
both financial and non-financial (ESG) data in the EU, as well as
establishing a proper regulatory framework for data providers: ensuring
coherence in the EU legislation on data providers’ services on financial
data, facilitating direct access to data, and implementing new
transparency and accountability requirements for data providers’
activities.