Asset management bodies and responsible investment groups have called on European regulators to require companies to report against the EU’s new green taxonomy ahead of investors.
The European Sustainable Investment Forum (Eurosif) and the European Fund and Asset Management Association (EFAMA) were responding to a consultation by the European Securities and Markets Authority (ESMA) over new reporting rules for large, listed issuers under the EU taxonomy regulations.
Once introduced, non-financial companies will be required to disclose a series of indicators, namely the proportion of their expenditure and revenues that matches the business activities defined in the taxonomy, while asset managers will report the share of taxonomy-aligned exposures.
Under the current proposals, both companies and asset managers will commence reporting for the financial year beginning January 2022.
In its feedback, EFAMA reiterated concerns that asset managers…