Photo: Oliver Hoslet/Pool via REUTERSProving how green or ethical your investments are gets more onerous from today as the EU begins to roll out its new sustainability rulebook. The move aims to tackle the widespread “greenwashing” of investments, which the Central Bank of Ireland highlighted last month in its securities markets risk outlook. The new rules will require asset managers to classify financial products according to whether they are fully or partly committed to sustainability, and say so on their website. From July, asset managers with more than 500 employees will have to disclose any adverse impacts their investments have on things like CO2 emissions, gender equality, tax transparency or other ESG measures. Earlier this month, the European Banking Authority suggested EU banks publish a ‘green asset ratio’ to measure how climate-friendly their investments are.

Source: Irish Independent March 10, 2021 02:37 UTC