Consultation on Sustainable Corporate Governance Initiative is Completed

Published 10 May 2021

PrintCategory: Impact and ESG

On 25 October 2020, the European Commission launched, as a part of the EU Action Plan, a public consultation on a possible EU-level regulatory initiative dedicated to foster long-term sustainable and responsible corporate behavior as part of the Commission’s strategy to achieve carbon neutrality under the European Green Deal. The European Commission’s consultation focuses on two key areas 1) corporate governance and 2) due diligence processes for social responsibility in relation to companies’ supply chains.

Prior to the hearing, the Commission has carried out two studies. In terms of corporate governance, the studies believe to have identified contradictions between the interests of shareholders and companies’ long-term strategy, and that the shareholders’ interests are primarily short-term economic interests focusing on profit maximization. In terms of due diligence, the Commission has concluded, based on the studies, that statutory initiatives are needed to act in accordance with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.

What’s next: The responses to the consultation will supplement the findings from the two studies and help shape the Commission’s legislative proposals, which we expect to see during the second quarter of 2021. Follow the development here on Mazanti Pulse.

Tags:  Sustainability


Also tagged ‘Sustainability’

1 Aug 2022Impact and ESGUpdates

New Guide on SFDR and EU Taxonomy Regulation

Invest Europe has published a comprehensive members guide on EU ESG reporting requirements for fund managers to clarify grey areas that exist around the day-to-day application of the regulation.

ComplianceDisclosure RequirementssustSustainability
22 Jun 2022Impact and ESGUpdates

Authorised AIFMs’ Integration of Sustainability Factors and Risks Applies from 1 August 2022

Authorized AIFMs shall from 1 August 2022 ensure that their systems, processes, and internal controls reflect relevant sustainability risks as defined in the SFDR.

AIFMDComplianceDisclosure RequirementsSustainability
17 Jun 2022Impact and ESGUpdates

ESMA Provides Guidelines for Funds’ Use of ESG Related Terms

On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing which provides guidance on sustainability risks and disclosures in investment management.

Disclosure RequirementsESMASustainability
26 Apr 2022Impact and ESGUpdates

Final Regulatory Technical Standards for SFDR and Taxonomy Regulation are Published

The RTS will define the new standard for sustainability-related disclosures in the financial services sector in the EU and supplements provisions of the SFDR and of the Taxonomy Regulation.

AIFMDComplianceDisclosure RequirementsSustainability
24 Jan 2022Impact and ESGUpdates

Invest Europe to set ESG Reporting Standards

In November 2021, Invest Europe released its Climate Ambition in which the association committed to contribute to the EU becoming climate-neutral by 2050 and pledged to help the P/E and VC industry move towards net zero. 

AIFMDComplianceDisclosure RequirementsSustainability
15 Dec 2021AIFsFinancial RegulationImpact and ESGUpdates

The Danish FSA: Significant Room for Improvement for SFDR Disclosures

The Danish FSA has assessed the quality of 4 pension companies and eight credit institutions' website disclosures with regards to information about their policies on the integration of sustainability risks in the investment decision-making process.

AIFMDComplianceDisclosure RequirementsSustainability
6 Dec 2021AIFsFinancial RegulationImpact and ESGUpdates

Application of SFDR Level 2 Obligations Delayed (Again)

The European Commission has once again delayed the application of the level 2 obligations of the Sustainable Finance Disclosure Regulation (SFDR) until January 2023.

AIFMDComplianceDisclosure RequirementsSustainability
17 Aug 2021Impact and ESGUpdates

EU Platform for Sustainable Finance Calls for Feedback on a Social Taxonomy

The EU Platform on Sustainable Finance has published its draft reports on the merits and potential design of a social taxonomy.

Sustainability
6 Jul 2021Impact and ESGUpdates

The Value Reporting Foundation – The Merger of IIRC and SASB

The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) has merged to form the Value Reporting Foundation. 

SustainabilityVenture Capital
8 Mar 2021AIFsUpdates

ESA Publishes Joint Supervisory Statement on the Interpretation on Fund Managers’ ESG Disclosure Obligations

From 10 March 2021, fund managers are required to make certain ESG disclosures available on their website and in their pre-contractual disclosures to investors.

AIFMDComplianceDisclosure RequirementsSustainability
24 Feb 2021Impact and ESGTrends

ESG & Impact: How To Go About It

Many investors (from business angels to mature stage investor) focus on how to develop and implement responsible investment practices specifically for their own organisation. We believe it’s key for investors to first consider what they want to achieve as well as why and how. That mission should be reflected throughout the investment process and portfolio management.

Sustainability
24 Feb 2021ArticlesImpact and ESGTrends

ESG & Impact: Investment Process and Portfolio Management

We aim to provide guidelines for those starting to implement ESG policies, as well as those wishing to develop their existing processes.

Sustainability
24 Feb 2021ArticlesImpact and ESGTrends

ESG & Impact: Investment Process and Portfolio Management

We aim to provide guidelines for those starting to implement ESG policies, as well as those wishing to develop their existing processes.

Sustainability
18 Dec 2020Impact and ESGTrends

ESG: Development in Investment Activity – What’s the Trend?

While most investors are still working within the field of ESG risk mitigation and/or ESG opportunity seeking, we see more investors becoming impact aware and start moving towards the right end of the spectrum.

Sustainability
18 Dec 2020Impact and ESGTrends

Challenges Regarding ESG Frameworks

The consideration and assessment of Environmental, Social and Governance factors is becoming a key driver for investor’s decision-making. The challenge for both investors and companies lies in the substantial number of frameworks that already exists for ESG reporting.

Sustainability
12 Oct 2020Financial RegulationImpact and ESG

EU Commission Completes Consultation on EU Green Bond Standard

The Commission has completed a public consultation on the proposal for a EU Green Bond Standard. The consultation proposes to use the EU Taxonomy to define green bonds.

AIFMDSustainability
26 May 2020Impact and ESG

ESA Consults on Fund Managers’ ESG Disclosure Obligations

The European Supervisory Authorities (ESA) has published draft technical standards setting out detailed rules on i.a. fund managers’ obligations under the ESG Disclosure Regulation.

AIFMDComplianceDisclosure RequirementsSustainability
11 Feb 2020Corporate Regulation

Sustainability Related Disclosure Requirements in the Financial Service Sector

The European Parliament and the Council have adopted a new regulation as a part of the European Commission’s action plan on sustainable finance and marks an important step in the Commission’s action plan.

Sustainability
29 Jan 2020Trends

Venture Capital Providers Agree on Sustainability Clause

We see a greater largely increased focus on sustainability and impact from all players in the start-up eco-system: From being “nice to have”, focus on sustainability and impact is increasingly becoming not only a valuation driver but a “deal or no deal” factor.

Sustainability
30 Apr 2019Financial Regulation

ESMA Submits Report on Sustainability Risks and Factors in the AIFMD and UCITS Directive

On 30 April 2019, the European Securities and Markets Authority (ESMA) published its final report on integrating sustainability risks and factors relating to environmental, social and good governance considerations in the AIFMD and UCITS Directive.

AIFMDESMAGovernanceRegulatory Technical StandardsRisk ManagementSustainability

Other updates

1 Aug 2022Impact and ESGUpdates

New Guide on SFDR and EU Taxonomy Regulation

Invest Europe has published a comprehensive members guide on EU ESG reporting requirements for fund managers to clarify grey areas that exist around the day-to-day application of the regulation.

ComplianceDisclosure RequirementssustSustainability
4 Jul 2022Taxation / VATUpdates

Commission Proposes Tax Incentive for Equity

On 11 May 2022, the European Commission has presented a proposal for a directive providing for a debt-equity bias reduction allowance, or DEBRA, to help businesses access the financing they need and to become more resilient.

22 Jun 2022Impact and ESGUpdates

Authorised AIFMs’ Integration of Sustainability Factors and Risks Applies from 1 August 2022

Authorized AIFMs shall from 1 August 2022 ensure that their systems, processes, and internal controls reflect relevant sustainability risks as defined in the SFDR.

AIFMDComplianceDisclosure RequirementsSustainability
17 Jun 2022Impact and ESGUpdates

ESMA Provides Guidelines for Funds’ Use of ESG Related Terms

On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing which provides guidance on sustainability risks and disclosures in investment management.

Disclosure RequirementsESMASustainability
28 Apr 2022Taxation / VATUpdates

Higher Corporate Tax Rate for Danish Financial Companies and Deductibility Cap on Salary Expenses

On 6 April 2022, the Danish Government presented a proposal for an amendment of, among others, the Danish Corporation Tax Act.

Danish RegulationManagement Remuneration
26 Apr 2022Impact and ESGUpdates

Final Regulatory Technical Standards for SFDR and Taxonomy Regulation are Published

The RTS will define the new standard for sustainability-related disclosures in the financial services sector in the EU and supplements provisions of the SFDR and of the Taxonomy Regulation.

AIFMDComplianceDisclosure RequirementsSustainability