EU financial regulators should look into whether the current ESG data provider landscape represents an oligopoly, Robeco’s Chief Investment Officer for Fixed Income and Sustainability, Victor Verberk, has said.
Speaking about the implications of new EU sustainability regulation at the opening of RI’s online European conference this morning, Verbeck said: “If I can give the [EU] regulators a tip, then look at the potential oligopolistic nature of the data suppliers, because there are [just] three of them”.
He joked that “whenever you give them a phone call, you get 100k [added to] your bill”.
It’s not the first time concerns about ESG data providers have been raised with EU regulators. Late last year, France’s Autorité des Marchés Financiers and the Dutch Autoriteit Financiële Markten - two of Europe’s most powerful national securities regulators - put forward proposals for mandatory regulation of all ESG data providers by the European …