ESAs advise on PRIIPS with environmental or social objectives

On 28 July 2017, the European financial regulators (ESAs) released their technical advice on the contents of the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs) with environmental and social objectives (EOS PRIIPS). Surprisingly the Governance component of the "ESG" (Environmental, Social and Governance) investment approach is excluded. The ESAs confirm most unfortunately that investors will not have any information on whether the provider has met its investment objectives or not and by how much: the provider only has to disclose these objectives “and how these will be achieved".

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