ESMA Consultation on integrating sustainability risks and factors in MiFID II
- Published on the 19th December 2018 with a closing date for responses by 19th February 2019, ESMA issued their consultation on integrating sustainability risks and factors in MiIFD II.
- This Consultation aims to:
- reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth;
- assess and manage relevant financial risks stemming from climate change, resource depletion, environmental degradation and social issues; and
- foster transparency and long-termism in financial and economic activity.
- This CP covers technical advice on:
- organisational requirements;
- risk management;
- product governance.
- It also includes suggested amendments to the ESMA guidelines on MiFID II product governance requirements; and
- the ESMA guidelines on certain aspects of the MiFID II suitability requirements.
- Consultation closes on 19th February 2019
- ESMA advice to be finalised by 30th April 2019