Environment & Energy Report

EU Lawmakers Back Disclosure on Sustainability, Investments

April 18, 2019, 6:40 PM

The European Union took a major step toward imposing a set of harmonized disclosure rules on pension funds, insurers, and credit institutions that will require them to detail the environmental impact of investment decisions.

Approved April 18 by the European Parliament, the legislation is the second of a three-part EU sustainable finance initiative to help member states meet Paris Agreement climate goals and to prevent false marketing, known as greenwashing, by the financial service industry. The financial disclosure rules were approved by a vote of 449-51, with 251 abstentions.

“Under these new rules the financial service industry will for...

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