Eurosif joins coalition to push for ESG risk management in new IORPs Directive
The European Commission’s revision proposal (2014/0091(COD)) included a requirement for all IORPs to consider ‘new or emerging risks relating to climate change, resource use and the environment.’ Regrettably, both the European Parliament and Council have removed these requirements from the initial draft. Ahead of the vote in ECON Committee on 1 December, Eurosif joined a coalition of stakeholders led by ShareAction, pushing for transparency and management of environmental, social and governance (ESG) risks in the revision of IORPs Directive. A joint letter was sent to all MEPs from the ECON Committee urging them to mandate all IORPs to consider ESG risks in their decision-making process and to require transparency around investment policies and practices, by adopting a series of amendments made by MEPs.
Read the letter here.