EFAMA responded to a public consultation of the Platform on Sustainable Finance on a social taxonomy.
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.
EFAMA responded to a public consultation of the Platform on Sustainable Finance on a social taxonomy.
EFAMA responded to a public consultation of the Platform on Sustainable Finance on taxonomy extension options linked to environmental objectives.
EFAMA welcomes IOSCO's enhanced attention to transparency efforts supporting informed and qualified investment decisions in sustainability-related products. We support the adoption of such recommendations at the international level and believe IOSCO should leverage the experience with SFDR and Taxonomy in Europe to help establish consistent international standards, definitions and best practices.
In this response, we would like to highlight three pressing challenges deserving greater attention in the report from asset managers' perspective.
EFAMA's latest edition of its 'Asset Management in Europe' report provides an in-depth analysis of recent trends, focusing on where investments funds and discretionary mandates are managed in Europe.
The asset management sector is a crucial one for the European economy, with a key role to play in financing the green transition:
EFAMA has released today a new issue of its Market Insights series titled “ESG ratings of Article 8 and 9 funds: assessing the current market and policy recommendations for the future”. This research was motivated by the development of the market for ESG ratings against the backdrop of a growing demand for Article 8 and 9 funds, two ESG-related fund categories introduced by the Sustainability Financial Disclosure Regulation (SFDR).
"It gives me great pleasure to provide you with an overview of our activities since our Annual General Meeting in Paris last year. While we were very much looking forward to hosting you all in Brussels this week, the current crisis and associated travel restrictions has forced us to improvise and turn our meeting into a virtual AGM.
A well-designed EU Ecolabel has the potential to provide clear guidance on the financial products retail investors can invest in if they wish to support environmentally sustainable projects and activities - in line with the EU Taxonomy Regulation. The European Commission wants to create a trusted and verified label for retail investors, who would benefit from better comparability of financial products.
The EFAMA Asset Management in Europe report aims at providing facts and figures to gain a better understanding of the role of the European asset management industry. It takes a different approach from that of the other EFAMA research reports, on two grounds. Firstly, this report does not focus exclusively on investment funds, but it also analyses the assets that are managed by asset managers under the form of discretionary mandates. Secondly, the report focuses on the countries where the investment fund assets are managed rather than on the countries in which the funds are domiciled.