Many people in the financial sector are not yet aware of this, but it is becoming increasingly clear that sustainability is the next big thing. In particular, the so-called ESG criteria (Environmental, Social and Governance) are already being increasingly integrated into investment and risk processes by asset managers, funds and insurers. This is not only due to the changing awareness and need of investors to be able to invest money with a clear conscience. It is also about meeting regulatory requirements. And there is a lot going on in the EU.
The focus is on the legislative proposals published by the European Commission in May last year, some of which were already transposed into national law in mid-January 2019 or will soon take concrete shape. However, the provisions of the Directive on the activities and supervision of institutions for occupational retirement provision (IORP II Directive) are also gaining in importance for institutions for occupational retirement provision.
More details on background and implications can be found in the German version of this article.
