In May 2018 the Commission presented a package of measures as a follow-up to its action plan on financing sustainable growth. The package includes 3 proposals aimed at:
- establishing a unified EU classification system of sustainable economic activities ('taxonomy')
- improving disclosure requirements on how institutional investors integrate environmental, social and governance (ESG) factors in their risk processes
- creating a new category of benchmarks which will help investors compare the carbon footprint of their investments.
In addition, from 24 May to 21 June, the Commission has been seeking feedback on amendments to delegated acts under the Markets in Financial Instruments Directive (MiFID II) and the Insurance Distribution Directive to include ESG considerations into the advice that investment firms and insurance distributors offer to individual clients.
- Press release
- Frequently asked questions
- Statement of the High-Level Expert Group on Sustainable Finance
Proposal for a regulation on the establishment of a framework to facilitate sustainable investment
Proposal for a regulation on disclosures relating to sustainable investments and sustainability risks and amending Directive (EU) 2016/2341
- Text of the proposal, impact assessment and summary of the impact assessment
- Feedback statement on the public consultation on institutional investors and asset managers' duties regarding sustainability
Proposal for a regulation amending Regulation (EU) 2016/1011 on low carbon benchmarks and positive carbon impact benchmarks
Draft amendments to delegated acts
- Commission draft delegated regulation amending Regulation (EU) 2017/565 supplementing Directive 2014/65/EU as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that directive
- Commission draft delegated regulation amending Delegated Regulation (EU) 2017/2359 with regard to environmental, social and governance preferences in the distribution of insurance-based investment products