10 Sep Agreement On Sustainable Investment Disclosure Rules
Despite the uncertainty surrounding the UK`s position, non-EU AIFMs marketing their funds under an EU Member State`s NPPRs should be required to comply with disclosure obligations from March 2021. (12) Directive (EU) 2016/2341 should delegate to the Commission the power to adopt acts in accordance with Article 290 TD in the Functioning of the European Union in order to determine how the EbIV takes investment decisions and assesses the risks related to environmental, social and governance risks. Governance and risk management rules already apply to investment decisions and risk assessments in order to ensure the continuity and regularity of the implementation of works council activities. Investment decisions and the assessment of relevant risks, including environmental, social and governance risks, should be taken in such a way that the interests of members and beneficiaries are coherent. The underlying activities and processes of the EBEN should ensure that the objective of the delegated acts is achieved. Delegated acts should, where appropriate, ensure consistency with delegated acts adopted in accordance with Directive 2009/65/EC, Directive 2009/138/EC and Directive 2011/61/EU. It is of particular importance that the Commission, as part of its preparatory work, carry out appropriate consultations, including at expert level, and that those consultations comply with the principles set out in the Interinstitutional Agreement on Better Law-Making of 13 April 2016. Directive (EU) 2016/2341 is a first step towards a more accurate disclosure framework in the financial services sector with regard to ESG factors. Directive (EU) 2017/828 18 on the long-term involvement of shareholders strengthened the transparency obligations imposed on institutional investors and asset managers by requiring them to develop and disclose an engagement strategy, including a description of how they control participating companies in terms of non-financial performance, social and environmental impact and corporate governance, and how their engagement policy has been implemented. . . .