Newsletter May 2006

Biofuels Directive Review and Progress Report-Public Consultation (July 10th deadline)

The European Union biofuels directive was adopted in May 2003. It aims to promote the use in transport of fuels made from biomass, as well as other renewable fuels. The directive specifically asks the European Commission to make a progress report before the end of 2006, which could be used as the basis for a proposal to amend the directive. The Commission set out the broad lines for this review of the directive in its biomass action plan and biofuels strategy. Now, in preparing the progress report, the Commission’s services would like to know the views of public authorities, businesses, non-governmental organisations and other interested parties on some key questions.

To share your opinion: http://ec.europa.eu/energy/res/legislation/biofuels_consultation_en.htm

Eurosif meetings

Eurosif & DGs

Eurosif met with EU representatives from DG Employment & Social Affairs and DG Environment concerning the evolution of the EU's CSR Strategy. Members can read more on this in the upcoming EU Insider.

Eurosif voicing opinion on voting rights

Eurosif also met with EP representatives regarding the current 'Draft Directive on the Exercise of Voting Rights by Shareholders' where we discussed our position that the exercise of voting rights and the issues addressed in the draft directive are of great importance to all institutional investors and parties involved in the sustainable governance of companies. We also discussed content from our landmark publication: Active Share Ownership in Europe which both the Rapporteur and Shadow Rapporteur found quite helpful.

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