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Civil society urges EU Council to ensure positive progression on development of disclosure requirements for sustainable investments

Author: ActionAid et al, Published on: 28 November 2018

19 Nov 2018

We, the undersigned, are writing to express our appreciation for the Council’s constructive engagement with the Sustainable Finance Agenda, and to express our ambitions for the future...

We consider that transparency on how investors approach the integration and disclosure of sustainability risks is a crucial step... The Parliament’s Report on the Disclosure Regulation also includes clear provisions that [...] would allow both investors and the public to operate and invest in a much more informed manner...

[W]e strongly support the objective of finalising a Council position on this file under the Austrian Presidency and therefore call for urgency on this matter... 

The speed of the process should be accompanied by a strong positive position on the key features of the Parliament’s Report: ...

 The proper definition of ‘sustainability risks’ that focus on both materially financial risks for financial institutions and negative impacts on the society and the environment... 

 The requirement for investors to put in place due diligence policies on ESG factors and sustainability risks...

Note: see also "Historic vote" in EU Parliament calls for stronger due diligence regime for investors

Read the full post here