AEIP replies to the European Supervisory Authorities (ESAs) joint consultation on the review of SFDR Delegated Regulation
The European Association of Paritarian Institutions (AEIP) has submitted its input to the European Supervisory Authorities (ESAs) consultation on the review of Sustainable Finance Disclosure Regulation (SFDR).
AEIP appreciates ESAs for the opportunity to provide input to the review of SFDR Regulation and underlines that our members are strongly committed and support socially and environmentally responsible business practices to combat adverse impacts on human rights, society, the environment, and climate. Our members have a paritarian structure meaning that they are set up and managed jointly by national social partners, as such pension funds represent the interest of both employers and employees, and unions play a significant role in the governance and the setting of the responsible investment policy.
Simone Miotto, the Executive Director of AEIP emphasized that:
“Ensuring the availability of high-quality data is paramount prior to developing any new mandatory social indicators or making adjustments to existing ones. Specifically, we have reservations regarding the provider’s ability to promptly furnish the necessary data. Moreover, given the data quality challenges encountered by pension funds in PAI reporting, we advise against introducing additional indicators at this juncture.”
AEIP is broadly supportive and acknowledges the significance of SFDR reporting and advocates for transparency, nevertheless, new developments should not create any additional regulatory burden for the pension funds as this could have a negative impact on pension entitlements.
Please see here to read the full AEIP input.
For further information please contact: Panayiotis Elia, Policy Advisor, Pension & Financial Affairs