more" />more" />more" />
AEIP
  • Offcanvas Icon
    • Home
    • About AEIP
      • About us
      • Mission & Vision
      • AEIP Team
      • Governance of AEIP
      • Members
      • Activity Reports
      • AEIP Vacancies & Internships
    • Working Groups
    • Publications
    • Partnerships
      • Protocols of cooperation
      • Scientific Council
    • Events
      • Conference
    • Contact
  • Mail : general@aeip.net
  • Tel : +32 2 233 54 20
  • Home
  • Newsletters
  • Contact
  • Archives
  • Intranet
  • Latest News
AEIP
  • About AEIP
    • About us
    • Mission & Vision
    • AEIP White Paper
    • AEIP Team
    • Governance of AEIP
    • Members
    • Activity Reports
    • AEIP Vacancies & Internships
  • Working Groups
  • Publications
  • Partnerships
    • Protocols of cooperation
    • Scientific Council
  • Projects
    • European Tracking Service on Pensions
    • Towards a New Start of Industrial Relations in Construction in CEEs
    • Information Sharing Agreements
    • Youth Employment Skillset in Posting
    • Mental Health in the Construction Sector Project
  • Events
    • Upcoming Events
    • Past Events
    • Annual Conference 2022: Video
  • Gallery
    • 2018 11 08 – AEIP – ANNUAL CONFERENCE 2018
    • 2019 11 06 – AEIP – ANNUAL CONFERENCE 2019
  • Notification

AEIP answers the joint consultation of the ESAs concerning Taxonomy-related sustainability disclosures

Homepage News AEIP answers the joint consultation of the ESAs concerning Taxonomy-related sustainability disclosures

AEIP answers the joint consultation of the ESAs concerning Taxonomy-related sustainability disclosures

Cécile Henrotte
12/05/2021
News

AEIP provided its input to the ESAs joint consultation on the RTS concerning taxonomy-related sustainability disclosures. In it AEIP welcomes the opportunity to comment on these draft measures. At the same time, it recognizes the effort of the ESAs to clarify the Level 1 provisions of both the SFDR and the Taxonomy Regulation through the letter of 7 January to the European Commission and the webinar of 29 April. Nevertheless, the entire framework remains difficult to understand and implement, with unclear definitions and overlap.

 

Moreover, both the SFDR and the Taxonomy apply to a wide range of financial market participants (FMP) and products so, as a result, the same information has to be read by very different types of audiences. While we are a strong supporter of the Taxonomy, we continue to believe that this harmonised approach to pre-contractual information is flawed.

 

Pension funds and provident institutions (occupational pension insurers) are both users and providers of information under the SFDR and Taxonomy Regulation (TR). However, many pension funds and provident institutions have mandatory participation established by collective agreements –for example in the Netherlands, in Belgium, in Germany and in France- so their automatically enrolled members have a completely different level of financial literacy, time and interest (as they can be managers in the automotive industry or employees in the construction sector as well) . We feel that the combined information requirements of the SFDR and TR will lead to an overflow of information for pension funds participants,  life insurance beneficiaries and retail clients. We recommend a balanced approach to information requirements in order to find a compromise between the information needs of different users.

 

As such we recommend:

  • Removing Article 16a (1) a (ii): we would caution against these ‘negative’ explanations, because they require an understanding of the difference between ‘promotion’ and ‘sustainable investments’.
  • Removing or reducing (or putting at the bottom) of the entire sector on the classification of the financial product as being Article 8/9 SFDR, making sustainable investments according to Art. 2(17) SFDR, and doing so in environmental objectives that may or may not fall within the Taxonomy. This type of information is meaningless for pension fund participants, or retail clients more generally

 

For a more detailed view of AEIP’s input to the ESAs joint consultation, please see here.

Previous Story
Registrations are open for the Responsible Investment Live Conference – 19 May 2021
Next Story
AEIP publishes its position on the DORA

Related Articles

AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive

In view of the ongoing discussions on the proposal for...

Report on AEIP’s Annual Conference 2022

AEIP’s Annual Conference for 2022 took place on 3rd November and...

Recent Posts

  • AEIP participates as honorary partner in the 4th Occupational Retirement Provision Forum of the Hellenic Union of Institutions for Occupational Retirement Provision (HUIORP) on 22 and 23 February 2023 Friday, 3, Feb
  • AEIP statement on Council recommendation on Long-term care Monday, 23, Jan
  • AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive Thursday, 19, Jan
  • Report on AEIP’s Annual Conference 2022 Wednesday, 18, Jan

Categories

  • Archives
  • News
  • Position Papers
  • Press Releases
  • Studies & Reports
  • Uncategorized

AEIP

The European Association of Paritarian Institutions (AEIP)
Rue Montoyer 24
B – 1000 Brussels

Tel: +32 2 233 54 20
Mail: general@aeip.net
Contact us

Links

  • About AEIP
    • About us
    • Mission & Vision
    • AEIP White Paper
    • AEIP Team
    • Governance of AEIP
    • Members
    • Activity Reports
    • AEIP Vacancies & Internships
  • Working Groups
  • Publications
  • Partnerships
    • Protocols of cooperation
    • Scientific Council
  • Projects
    • European Tracking Service on Pensions
    • Towards a New Start of Industrial Relations in Construction in CEEs
    • Information Sharing Agreements
    • Youth Employment Skillset in Posting
    • Mental Health in the Construction Sector Project
  • Events
    • Upcoming Events
    • Past Events
    • Annual Conference 2022: Video
  • Gallery
    • 2018 11 08 – AEIP – ANNUAL CONFERENCE 2018
    • 2019 11 06 – AEIP – ANNUAL CONFERENCE 2019
  • Notification

News

  • AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive
  • Report on AEIP’s Annual Conference 2022
  • AEIP reiterates its support to co-legislators for the achievement of the European Health Data Space (EHDS)
  • AEIP publishes its position paper on the upcoming review of IORP II Directive
  • AEIP is looking for a new Executive Director to lead its lobbying activities in Brussels
  • European Retirement Week: Joint event AEIP/ PensionsEurope on (E)SG: Social and Governance Factors in Europe
  • European Retirement Week kicks off today

Follow us on Twitter

Copyright ©2018 AEIP Disclaimer - Made by Info Bel consulting, hosting Anagramme. All Rights Reserved
SearchPostsLogin
Friday, 3, Feb
AEIP participates as honorary partner in the 4th Occupational Retirement Provision Forum of the Hellenic Union of Institutions for Occupational Retirement Provision (HUIORP) on 22 and 23 February 2023
Monday, 23, Jan
AEIP statement on Council recommendation on Long-term care
Thursday, 19, Jan
AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive
Wednesday, 18, Jan
Report on AEIP’s Annual Conference 2022
Monday, 16, Jan
AEIP reiterates its support to co-legislators for the achievement of the European Health Data Space (EHDS)
Thursday, 12, Jan
AEIP publishes its position paper on the upcoming review of IORP II Directive

Welcome back,