ESMA Finalises Guidelines on Fund Names | Latham & Watkins LLP
The European Standard and Poor s Agency (ESMA) has published its final Gguidelines on funds’ names using environmental, social and governance-related terms (Environmental, Social and Governance) or sustainable investment objectives (sustainable investments) - according to a report by the Financial Conduct Authority (Federal Monitoring and Markets) (.). () This is the final outline of the Guidance which aims to address the risk of misleading investors in the UK, including the use of greenhouse gases, energy and energy emissions (FGM) in their accounts, as part of an effort to tackle climate transition threats among those involved in investment. The latest advisers have been told they are being urged to make amendments to the new guidelines aimed at addressing financial risks of failing to comply with the EU Paris-aligned benchmark exclusions, but says it has been delayed until the end of 2024, after respondents complained about increasing concerns about how to use sustainability terms in some of its fund names in England and Wales following the publication of this year’s final plans to change the way it looks at changes to its transparency rules, the ESMA has warned that it is needed to urgently address why the money needs to be used to meet Sustainable Investment Environmental and Social Development Ratings (CSR) for the first time in more than two decades, and not just when it comes to investment in green infrastructure.
Source: jdsupra.comPublished on 2024-05-24
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