September 21, 2017 — The European Commission has proposed giving the European Supervisory Authorities broader powers to determine what represents environmental, social and governance (ESG) investment and to monitor banks’ activities in this field.
The idea was included in this week’s package, aimed at strengthening the supervision powers of the European Securities Markets Authority, the European Insurance and Occupational Pensions Authority and the European Banking Authority.
The objective, outlined in a communication presented on Wednesday, 20 September, is to bring more efficiency to the capital markets union Europe is trying to set up, and avoid regulatory arbitrage especially in the aftermath of Brexit.
The communication said it is indispensable to reorient private capital to green investment’. Read more.
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