Webinar – Sustainability Disclosure Updates from Emerging Markets – Wednesday, 13 July 2022

The European Commission wants bigger role for regulators in sustainable finance development

The European Commission has proposed giving the European Supervisory Authorities broader powers to determine what represents environmental, social and governance investment and to monitor banks’ activities in this field.

The idea was included in this week’s package aimed at strengthening the supervision powers of the European Securities Markets Authority, the European Insurance and Occupational Pensions Authority and the European Banking Authority.

The objective, outlined in a communication presented on Wednesday (20 September), is to bring more efficiency to the capital markets union Europe is trying to set up, and avoid regulatory arbitrage especially in the aftermath of Brexit.

The communication pointed out that it is “indispensable” to reorient private capital to ‘green investment’.

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