European Commission Adopts Long-Awaited Amendments for Asset Managers, Insurers and Insurance Distributors on ESG Integration (May 2021)
Client Briefings
Introduction
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On 21 April 2021 the European Commission adopted a package of measures to help improve the flow of money towards sustainable activities across the European Union. The package comprised:
- The European Taxonomy Climate Delegated Act;
- A proposal for a Corporate Sustainability Reporting Directive (you can read our briefing on this development here); and
- Six amending Delegated Acts (Delegated Acts) on fiduciary duties, investment and insurance advice covering amendments to the AIFMD, UCITS, MiFID II, IDD and Solvency II frameworks.
This briefing provides an overview of what the Delegated Acts entail, and their impact on UK-based asset managers, insurers and insurance distributors.
