IPE's EU Coverage – Page 7
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Asset Class Reports
Credit: EU raises the green bond stakes
The EU is considering making its Green Bond Standard mandatory
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Features
The case for an EU consolidated tape
Liquidity. Equality. Fragility. With apologies to the French Republic, these three words almost act as a lodestone in discussions about a consolidated tape (CT) for EU securities. The need for such a tape is becoming more apparent than ever, but it could still be three years or so before it become a reality, according to Susan Yavari, regulatory policy adviser at the European Fund and Asset Management Association (EFAMA) and the author of a detailed official position paper on the subject published in mid-February.
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NewsInvestor bodies join NGOs in call to MEPs to broaden scope of EU CSRD
Groups want Directive to include all listed SMEs as well as non-listed SMEs in high-risk sectors
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NewsEC advisers adjust proposed social taxonomy structure given feedback
Social taxonomy would help by clearly defining what constitutes a social investment
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Special ReportSpecial Report - Regulation
Europe’s flagship SFDR regime for ESG was never intended to become a fund-labelling framework. So as Susanna Rust also writes in this issue, it is a relief that the EU is now consulting on minimum requirements for Article 8 funds. In this Special Report, we look in some depth at how asset managers have embraced SFDR, taking in the broad reclassification exercise that has taken place to relabel existing funds, and the short-term risks of greenwashing. In the longer term, the hope is for much more standardisation and there are signs that this is already happening.
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Special ReportCSDR’s settlement penalties kick in
New regulations attempt to clarify and standardise securities settlement procedures
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Opinion PiecesViewpoint: Greenwashing needs to be pinned down
On 10 March 2022, the EU’s Sustainable Finance Disclosure Regulation (SFDR) turns one. In terms of how it was drafted and how it has been implemented, it hasn’t exactly covered itself in glory, although it was high time regulators got involved to try to bring some order into ESG-land.
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FeaturesAccounting: DB sponsors at a crossroads
If a decade ago the talk was of defined-benefit (DB) scheme sponsors locked in an infernal struggle against the dizzying gravity of spiralling accounting deficits, thoughts now are turning to the end game.
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NewsESG roundup: EU Council agrees position on CSRD
Plus: FCA writes to credit rating agencies; New framework classifies climate risks at firm level
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NewsGreenwashing fight a priority for ESMA in new roadmap
EU watchdog emphasises need for shared understanding of greenwashing and identifying it under the SFDR
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NewsNatural gas doesn’t need EU green taxonomy inclusion – EDHECinfra
And including it could harm renewable energy investment
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NewsCommission taxonomy decision lamented as political, creating confusion
The Dutch Pension Federation is calling on the European Parliament to reject the Commission’s proposal to include natural gas and nuclear energy in the taxonomy
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NewsSFDR Article 8 fund label questionable in 20% of cases, analysis suggests
Advisory and portfolio analytics firm delivers ’clinical assessment of the state of ESG integration in the European fund management industry’
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NewsESMA launches call for evidence on ESG ratings market
To be complemented by separate consultation from European Commission
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NewsESMA recommends final one-year clearing exemption for pension funds
PensionsEurope welcomes announcement, calls for European Commission to start rule-making process early
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Special ReportSpecial Report – Pan-European Personal Pensions
From March, the European Commission’s vision of a simple, cross-border savings product becomes a reality with the launch of the Pan-European Personal Pension Product (PEPP). EU citizens will for the first time be able to channel savings into a long-term third-pillar product that is cost effective, simple and portable across borders.
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Special ReportPEPP: Few players on the starting line
In March, the European Union’s Pan-European Personal Pension Product (PEPP) framework comes into effect, amid doubts about the take-up by providers
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Special ReportFrancesco Briganti: All’s well that ends well for PEPP?
Despite the remaining questions, the impact of the PEPP on European pensions could be positive
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Special ReportCase study: Readying PEPP for launch
The EU’s PEPP is like a shuttle aircraft, with the potential to carry individual savers across Europe. But its flight plan is detailed and complex, and admin providers play a key role in preparing PEPP for launch
