1. On 24 May 2018, the European Commission (Commission) adopted a package of measures on sustainable finance. The package included proposals aimed at establishing a unified EU classification system of sustainable economic activities ('taxonomy'); improving disclosure requirements on how institutional investors integrate environmental, social and governance (ESG) factors in their investment and advisory processes; and creating a new category of benchmarks which will help investors compare the carbon footprint of their investments.
2. On 1 August 2018, the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) received a formal request (mandate) [Request from DG FISMA to EIOPA and ESMA for technical advices with regard to the integration of sustainability risks and sustainability factors.] from the Commission to provide technical advice supplementing the initial package of proposals and to assist the Commission on potential
…