Investors With $6.8 Trillion Warn EU Not to Bow to ESG Backlash

A group of investors representing €6.6 trillion ($6.8 trillion) of assets is calling on European officials not to cave in to mounting pressure to scale back the bloc’s ESG regulations.

The planned reporting rules are essential to help asset managers and owners identify where to allocate funds, according to the group, which consists of the Institutional Investors Group on Climate Change (IIGCC), the European Sustainable Investment Forum (Eurosif) and the Principles for Responsible Investment (PRI).

Any adjustments should be limited to technical standards and guidance on implementation, the group said on Tuesday. The alternative, namely reopening European environmental, social and ...