ARTICLE
18 February 2019

Sustainability In EU Capital Markets: New Rules For Fund And Asset Managers Ahead

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Jones Day

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Jones Day is a global law firm with more than 2,500 lawyers across five continents. The Firm is distinguished by a singular tradition of client service; the mutual commitment to, and the seamless collaboration of, a true partnership; formidable legal talent across multiple disciplines and jurisdictions; and shared professional values that focus on client needs.
Currently in the European Union, no level playing field exists for asset management and rating agency activities when it comes to ensuring sustainability
United States Finance and Banking

Currently in the European Union, no level playing field exists for asset management and rating agency activities when it comes to ensuring sustainability. The European Securities and Market Authority ("ESMA") is proposing amendments to certain Level 2 legislation and guidelines to make integration of environmental, social, and governance ("ESG") factors mandatory for asset managers, investment advisors, and credit rating agencies ("CRAs"). If implemented, EU-based asset managers and investment advisors will need to review their existing investment and advisory processes with regard to ESG. If they have not yet implemented such processes, they will need to develop adequate investment and advisory processes integrating ESG factors. EU-based CRAs also may need to disclose ESG factors when these are considered as part of a credit rating action.

This  White Paper examines each of the new ESG integration proposals and outlines their possible impact on asset managers, investment advisors, and CRAs.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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