The European Commission has published a proposal for a Corporate Sustainability Reporting Directive (CSRD), paving the way for much-needed mandatory European sustainability reporting standards (ESS). Insufficient availability of meaningful, comparable, reliable and public ESG data is a key impediment to realising the full potential of the EU's sustainable finance regulatory framework. EFAMA, therefore, encourages the co-legislators to maintain the ambition of this proposal.
EFAMA's Director General, Tanguy van de Werve, was interviewed by the CEO of Luxembourg for Finance, Nicolas Mackel, for the latest episode of their Shaping Finance podcast. They discussed hurdles that still need to be addressed in the area of sustainable finance, the importance of increasing retail investor participation in capital markets and other CMU-related issues.
Other issues discussed include the role of the investment management industry in the post Covid-19 recovery and the 'build back better'. As well as the role of ESMA in further promoting supervisory convergence.