On 31st May 2016 the European Commission mandated the Joint Committee to provide Technical Advice specifying the details of the procedures used to establish whether a PRIIP targets specific environmental or social objectives, based on Article 8(4) of the Regulation.
The European Commission therefore requests the ESAs to consider whether measures are required to ensure PRIIPs manufacturers have appropriate governance systems in place to ensure that disclosed EOS objectives are met. The ESAs should examine the product governance requirements and validation procedures laid down in existing EU legislation, whether they are also adequate for this purpose, and what extra measures might be considered if shortfalls are identified in the current legal framework.
On the 10th of February 2017, the ESAs issued a Consultation Paper providing stakeholders with an opportunity to comment on the draft Technical Advice already developed on the procedures to be used to establish whether a PRIIP targets specific environmental or social objectives, pursuant to the Regulation (EU) No 1286/2014.
The Consultation Paper is available on the website of the Joint Committee: https://esas-jointcommittee.europa.eu/consultations/. Comments on this consultation can be sent using the response form, to the email address CPfirstname.lastname@example.org under the subject ‘CP-17- 002_on_EOS_PRIIPs’ by 23 March 2017, 18h00 CET.