| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 317, Pages 1-16 |
| Publication Date | 09/12/2019 |
| Content Type | Blog & Commentary, Legislation, News, Policy-making |
Summary:Regulation (EU) 2019/2088 - adopted by the co-legislators on 27 November 2019 - setting up disclosure obligations on how financial companies integrate environmental, social and governance (ESG) factors in their investment decisions. This is a text with EEA relevance. Further information:This Regulation lays down harmonised rules for financial market participants and financial advisers on transparency with regard to the integration of sustainability risks and the consideration of adverse sustainability impacts in their processes and the provision of sustainability‐related information with respect to financial products. The draft law was adopted on 24 May 2018 as part of a legislative package focusing on sustainable finance. It follows up on the adoption of a Communication on financing sustainable growth in March 2018. The European Parliament adopted a negotiating position on 14 November, followed by the Council of the European Union in December 2018. An informal agreement between the co-legislators on a compromise text for this file was reached on 7 March 2019. The Parliament formally endorsed it on 18 April, followed by the Council on 8 November. The Act was signed by the co-legislators on 27 November 2019 and published in the Official Journal on 9 December 2019. The Act entered into force on 10 March 2021. |
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| Source Link | http://data.europa.eu/eli/reg/2019/2088/oj |
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| Subject Categories | Business and Industry, Environment |
| Subject Tags | Capital Markets Union [CMU], Financial Services, Sustainable Development |
| International Organisations | European Union [EU] |
