Eurosif Supports Landmark European Commission Proposal Promoting ESG Investment Disclosure // 30.07.2012
Eurosif, the European Forum for Sustainable Investment http://www.eurosif.org, strongly supports the Proposal of the European Commission, for a Regulation making it mandatory for retail investors to be informed about how environmental, social and governance (ESG) concerns are taken into account in their investment, whether in a mutual fund or other investment-linked products. Eurosif believes that this Proposal represents a major milestone in terms of developing sustainability through European financial markets.
The Proposal of 3 July, 2012, is on the Key Information Document (KID) for investment products. It is linked to a wider EU initiative to create a sustainable and satisfactory regulatory environment for the sale and disclosures of retail investment products (Packaged Retail Investment Products or PRIPs).
It is also consistent with the recent European Commission Communication on Corporate Social Responsibility (CSR) and linked to other financial reforms aimed at helping to rebuild confidence in European financial markets amongst retail investors.
François Passant, Executive Director of Eurosif comments, “Encouragingly, the Proposal requires that all packaged retail investment products, including those not portraying themselves explicitly as “ESG or SRI products”, disclose whether the investment product manufacturer targets specific ESG outcomes”.
Eurosif is supported in this position by its national members: Forum Finanza Sostenibile (FFS) of Italy; Forum pour l’Investissement Responsable (French SIF) of France; Forum Nachhaltige Geldanlagen (FNG) of Austria, Germany and Switzerland; SpainSIF; the Vereniging van Beleggers voor Duurzame Ontwikkeling (VBDO) of Holland and the UK Sustainable Investment and Finance Association (UKSIF).
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