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Funds Europe: The European Securities and Markets Authority (Esma) has backed the first set of draft European Sustainability Reporting Standards (ESRS Set 1), stating the regulations, which are meant to increase the quality of information in sustainable investing, are “broadly capable” of meeting investor protection, stability and sustainability objectives.
Nasdaq: Britain's accounting watchdog said it will monitor whether auditors were making spot checks on their compliance with environmental, social and governance (ESG) reporting requirements in company audits.
Morningstar: There were more dramatic changes in the way ESG funds were classified last year, and the final quarter of 2022 saw the biggest downgrade of the strictest sustainable funds since new disclosure rules came into place in 2021.
ESG Clarity: UK regulator The Financial Conduct Authority (FCA) will be testing asset management firms on whether they deliver on their ESG claims.
Counsultancy.UK: As the global economy heads into recession, it seemed that investors and executives were about to clash on environmental, social and governance spending. While investors said they were increasingly likely to divest from companies which did not take sustainability budgets seriously, one-third of executives said they were considering cutting ESG spending, as they sought to consolidate their bottom lines.
BNN Bloomberg: The UK’s proposed rules to eradicate greenwashing in investment funds set a higher bar than those already enforced in the European Union, according to one of Britain’s biggest and most influential finance industry groups.
Institutional Investor: Environmental, social, and governance issues are increasingly impacting exit opportunities for private equity firms. But keeping up with ESG standards remains an ongoing challenge, especially for mid-market managers.
Yahoo Finance: The European Parliament's economic affairs committee is due to vote on cross-party compromises, seen by Reuters, on a draft law which implements remaining elements of Basel III, a global accord which forces banks to hold more capital to cope with market shocks unaided by taxpayers.
Funds Europe: ESG strategies dominated the ETF market in Europe in 2022, according to the latest data by Morningstar.
European Pensions: The European Fund and Asset Management Association (EFAMA) has called for the European Supervisory Authorities’ (ESAs) work on greenwashing to differentiate between misleading with intent and uncertainty on regulations.
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