'Game changer': EU law to make investors declare environment and social impacts
The EU has got another piece of its Sustainable Finance Action Plan over its most important political hurdle. At 5.30am on Thursday, after an all night session that had started at 8pm, negotiators in Brussels reached a deal on the Sustainability Disclosure Regulation. The law goes further than originally planned: investors are guided to consider their impacts on the real world, as well as inward risks to their portfolios, and to conduct due diligence.
“It is a great victory,” said Eleni Choidas, European policy manager at ShareAction, the responsible investment NGO, in Brussels. “As a symbol it is crucial. It is very important that we have the impact measurement in actual legislation.”Less encouraging for those concerned about fulfilling the Paris Agreement ...
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