PensionsEurope input to EC consultation on ESG ratings

PensionsEurope input to EC consultation on ESG ratings

In its input to European Commission’s consultation on ESG ratings, PensionsEurope e.g.:
- welcomes the consultation, shares many of the Commission’s concerns, and welcomes the Commission’s further work to improve the ratings and the functioning of the market;
- stresses that the current main challenges for pension funds are related to ESG data, as there is clearly a lack of reliable and accurate ESG data, which pension funds need to report under the SFDR;
- proposes to adopt a holistic and coordinated regulatory approach to both financial and non-financial (ESG) data in the EU, as well as establishing a proper regulatory framework for data providers: ensuring coherence in the EU legislation on data providers’ services on financial data, facilitating direct access to data, and implementing new transparency and accountability requirements for data providers’ activities.