At a glance:Sustainability in European legislation
The topic of sustainability is currently very prominent in European legislation.1 In May 2018, as part of its action plan for sustainable finance, the European Commission published legislative proposals regarding taxonomy, transparency, conduct of business and organisational requirements and benchmarks.2
In addition, in the context of a mandate issued by the European Commission, the European Securities and Markets Authority (ESMA) developed and made available for consultation, among other things, advice regarding the implementation of sustainability factors in the European regulations for investment funds as well as the integration of sustainability factors in the risk management of investment firms, in the identification of target markets and in the suitability assessment.
