The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, published its Strategy on Sustainable Finance. The strategy sets out how ESMA will place sustainability at the core of its activities by embedding Environmental, Social, and Governance (ESG) factors in its work. The key priorities for ESMA include transparency obligations, risk analysis on

[…] The European Commission’s so-called “taxonomy” for classifying green investments should address three important questions. Unfortunately, the Commission’s one-dimensional approach disregards two of the three, with potentially damaging consequences. […] The Commission’s focus on the question of which economic activities are sustainable entails defining and listing all activities that contribute to the energy transition, such

The new President of the European Commission refers to the European Green Deal as “Europe’s man-on-moon moment”. BETTER FINANCE strongly supports the Green Deal, the most important shift in European energy policy we have seen in the last two decades. But since the devil is in the detail, it raises the question whether the proposed

Brussels, 21 January 2019 – Back in 2013, BETTER FINANCE clearly expressed its support for a European Financial Transaction Tax (FTT) and its main stated objective “[of ensuring] that financial institutions make a fair and substantial contribution to covering the costs of the recent crisis… and to ring-fence the real economy, SMEs, households, etc.”. At

BlackRock Inc. will ditch investments with high sustainability-related risk as climate concerns drive a sweeping change in the way the world’s largest asset manager invests its $7 trillion in assets. […] Activists have been calling on BlackRock to do more around the climate crisis. […] Operating in more than 30 countries, and as one of

The EU’s nascent sustainable funds label has been amended after being described as ‘too ambitious and not achievable’ […] The Ecolabel is an existing EU certification awarded to a range of products which meet high environmental standards aimed at end consumers. The scheme is being extended to include financial products for the first time to

The EU Benchmark Regulation has been in application since 1 January 2018. The review covers the following topics: the functioning and effectiveness of the rules applicable to critical benchmarks, the mandatory administration and mandatory contribution rules and the definition of a critical benchmark; the effectiveness of the authorisation, registration and supervision regime applicable to benchmark

The Danish financial regulator, the FSA, and its Norwegian counterpart Finanstilsynet, stated that the increasing supply of investment products marketed as sustainable can increase the risk of greenwashing, meaning products could be marketed as green without living up to the name. The FSA said that this calls for the tightening of supervisory efforts, in order

Closing Speech by Guillaume Prache at the Sustainable Value for Money Conference on 20 November 2019 — Download the PDF version here — BETTER FINANCE strongly supports the ambitions, the strong focus and considerable efforts of the EC with respect to sustainable finance. In particular: The so called “taxonomy” which we ask to be fact

J.P. Morgan Chase is launching a digital investing service called “You Invest Portfolios”. For an annual fee of 0.35% of assets, or 35 basis points, J.P. Morgan will put users into an investment portfolio made up of the bank’s exchange traded funds, or ETFs. While the fee is in line with its rivals, by waiving