Brussels, 6 December 2019 - EFAMA comments the provisional political agreement on EU taxonomy

Tanguy van de Werve, Director General of EFAMA, commenting on the provisional political agreement reached yesterday said:

As the voice of the European asset management industry, we support the EU’s political objective to fight climate change and meet the Paris agreement goals, and have been following closely the negotiations on EU Taxonomy Regulation. 

A well-designed EU taxonomy is needed to bring clarity on what constitutes sustainable investments, enhance comparability for investors and prevent green washing. Robust and publicly available ESG disclosures on investee companies are a prerequisite to make EU taxonomy work in practice, especially in view of the scope of the disclosure requirements being enlarged to include all financial products. It is therefore crucial that investee companies are required to disclose all key data needed to evaluate the investment against the EU taxonomy