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Expert consultation on the procedures to assess and disclose whether a PRIIP targets specific environmental, social and governance (ESG) objectives


Members of the Economic and Monetary Affairs Committee (ECON) of the European Parliament are currently working in cooperation with the European Commission and the European Supervisory Authorities (ESAs) on the implementation of a key pillar of the EU financial market reforms: an easily underdstandable stand alone document which aims at providing important information for investors on packaged retail investment products (such as investment funds or life insurances).

The next key step in this process of implementing the PRIIPs regulation is the elaboration of rules on procedures to assess and disclose whether a PRIIP targets specific environmental, social and governance (ESG) objectives. This provides a good opportunity to contribute to the elaboration of a robust framework for ESG investment strategies. These new implementation rules can potentially promote the development of the European sustainable investment product market, thereby also anchoring sustainability in the Capital Markets Union.

Please, find the proposals of the European Supervisory Authorities (ESAs) here: https://esas-joint-committee.europa.eu/Publications/Consultations/JC_2017_05_CP_EOS_PRIIPs_final.pdf

Please, find the PRIIPs regulation (“regulation on key information documents for packaged retail and insurance-based investment products”) which provides the basis for the proposals, here: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R1286&from=en

We would be delighted, if those of you who have suggestions for specific comments, could send us their contributions by Friday, 31. March 2017.

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