EU: Over 160 investors with EUR 6.6 trillion assets warn Omnibus package could harm investment & create legal uncertainty
"Investors warn Omnibus package could weaken EU sustainability disclosures, harming investment and economic competitiveness"
…Investors with a combined €6.6 trillion in assets under management have urged the European Commission to “preserve the integrity and ambition” of the EU’s sustainable finance framework. The move comes amid alarm that the EU Commission’s upcoming Omnibus package, expected on 26th February 2025, could lead to the wholesale revision of key sustainability requirements.
A joint statement published by three leading European investor membership bodies - Eurosif, IIGCC and the PRI - and supported by more than 200 investors and other financial sector actors, warns that “reopening these regulations in their entirety risks creating regulatory uncertainty and could ultimately jeopardise the Commission’s goal to reorient capital in support of the European Green Deal.”…
… investors say these regulations are “fundamental cornerstones of the EU’s sustainability policy architecture” and are crucial for fostering long-term sustainability and economic growth in Europe. This is because, as the statement argues, the rules facilitate investors to make informed decisions to “manage risks, identify opportunities and ultimately reorient capital towards a more competitive, equitable, and prosperous net-zero economy.”
…the joint statement emphasises the importance of long-term policy stability and highlights the dangers of wholesale reopening of the three laws…
…investors say the increased transparency created by these regulations is already having a positive impact…
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