EU prepares to turn the screw on asset managers over greenwashing euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.
On 25 February 2021, the Joint Committee of the European Supervisory Authorities (“ESAs”) published a joint supervisory statement (“Joint Statement”) on the application of the.
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The European Supervisory Authorities (ESAs) have published a Supervisory Statement to clarify the application of the Sustainable Finance Disclosure Regulation (SFDR)
1 in anticipation of the requirements applying in the European Economic Area (EEA) from 10 March 2021. The Supervisory Statement does not impose new requirements on financial market participants and advisers, but confirms the industry approach to using the draft Regulatory Technical Standards (RTS) as a reference point in their compliance efforts for the 10 March 2021 deadline.
The RTS implement the more detailed requirements of the SFDR through secondary rules, which, due to the disruption caused by COVID-19, will not be finalised by 10 March 2021, as originally intended.
EU Prepares to Get Tougher on Asset Managers that ‘Greenwash’ Sustainable Credentials By Simon Jessop and Kate Abnett | March 10, 2021
LONDON/BRUSSELS – For money managers and advisers keen to market their sustainable investing credentials to European clients, going green is about to get a lot tougher.
Under a suite of new EU finance rules due to be rolled out in stages, beginning on March 10, firms including fund houses, insurers and pension funds that provide financial products or services in the European Union will have to begin disclosing how sustainable they really are.
The new rules “should make it harder for market participants to talk up environmental credentials without following through with action, so-called ‘greenwashing’….”