EFAMA welcomes the opportunity to respond to the EC’s targeted consultation on the functioning of the ESG rating market in the EU and on the consideration of ESG factors in credit ratings. Please note that our response covers, at the same time, ESG ratings and ESG data providers, as the demand for ESG “raw” data has been increasing at a steady pace. The use of ESG data has also rapidly shifted from a narrow set of investment products to being prolific across all investment products.
The asset management industry plays a key role in meeting the objectives of the European Green Deal to make the EU’s economy sustainable. Our members integrate ESG considerations across their risk management processes and investment decisions. They develop sustainable investment products and foster transparency to fight greenwashing. This increases choice, trust and, in turn, retail investors’ participation. Overall, such efforts mobilise capital towards a fair and just transition to a climate-neutral economy by 2050.
EFAMA actively contributes to the development and implementation of EU’s sustainable finance initiatives. Among them are a comprehensive transparency framework for financial market participants, standards and labels for green financial products, classification of green economic activities and policies enhancing corporate sustainability reporting.
Investors, asset managers and civil society organisations call for the prompt implementation of the reform on corporate sustainability reporting and EU standards
The European Single Access Point: a powerful tool for investors to assess the ESG performance of companies
EFAMA sees the European Commission’s proposal for the creation of a European Single Access Point (ESAP) as a crucial step in addressing the limited availability and scattered nature of financial and sustainability-related entity information at EU level.
EFAMA has published its response to the joint European Supervisory Authorities (ESAs) consultation on taxonomy-related sustainability disclosures in the Sustainable Finance Disclosure Regulation (SFDR).
EFAMA calls for prompt adoption of ambitious mandatory sustainability disclosures under the Corporate Sustainability Reporting Directive
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.
The European Fund and Asset Management Association (EFAMA) has published its response to the European Commission's consultation on the establishment of a European Single Access Point (ESAP) for financial and non-financial information publicly disclosed by companies.
The report looks at the major trends in the ESG UCITS market, the impact of the coronavirus pandemic, and the behaviour of ESG and non-ESG funds.
For this Market Insights, EFAMA collaborated with its member associations and strategy consultants at INDEFI to estimate the level and nature of ESG investment by European asset managers at the end of 2019, distinguishing between the ESG strategies applied at the firm level and those applied at the level of individual fund and discretionary mandate. The assets under management covered in the report include EUR 12.5 trillion of investment fund assets and EUR 11.4 trillion of mandate assets.*