Frankfurt, 8th July 2020
The Italian Association of Financial Analysts (Associazione Italiana per l’Analisi Finanziari (AIAF)) has filed comments to the six public consultations about Directives UCITS, MiFID II, IDD, Solvency II and AIFM. The comments are from Andrea Gasperini and Sonia Artuso both from the ESG Observatory and the EFFAS Commission on ESG issues, part of the Expert team certified ESG Analyst. They state that:
The EU’s Action Plan Financing Sustainable Growth (3/2018) seeks to clarify the duties of financial institutions to provide their clients with clear advice on the social and environmental risks and opportunities linked to their investments. The aim is to shift capital flows away from activities that have negative social and environmental consequences and direct finance towards economic activities that have genuine long-term benefits for society.
View the full paper Intention to clarify the integration of Sustainability in so-called fiduciary duties in sectoral legislation UCITS, MiFID II, IDD, Solvency II and AIFM here