European Commission releases new legislative proposals on financing sustainable growth (UNPRI)


Today the European Commission released the first legislative package under the Action Plan for Financing Sustainable Growth.

There are four proposals:

- Promotion -

A unified EU classification system (‘taxonomy’)
Investors’ duties and disclosures
Low-carbon benchmarks
Better to advice to clients on sustainability
The European Parliament and Council will next review and agree on the proposals. The enabling legislation is scheduled to be adopted from late 2019, with several elements entering into force six months later. Some measures such as the taxonomy will take until 2022 to resolve and the investment advice proposals will first go to public consultation.

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Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has been awarded ‘A+’ and ‘A’ ratings by the United Nations Principles for Responsible Investment (PRI), the world’s leading proponent of responsible investing, as part of the organisation’s 2020 Assessment Reports for signatories.

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