The EU’s financial services commissioner warned that too tough a disclosure regime might backfire. Read more at straitstimes.com.
BRUSSELS – Almost 100 European asset managers and banks, as well as ESG fund associations and a UN-backed network of financial institutions, plan on Friday to call on the EU to rewrite environmental, social and governance reporting rules to make climate reporting mandatory.
The commission is now hashing out how those reporting standards should look. But the plan has been faulted for giving companies too much latitude to decide what to disclose. The problem is compounded for the finance industry, which faces stricter reporting requirements under another set of EU rules targeted at the sector.
The commission has said it has tried to avoid placing an excessive reporting burden on companies, particularly smaller businesses. At Thursday’s public hearing, Ms Mairead McGuinness, the EU’s financial services commissioner, reiterated the point and warned that too tough a disclosure regime might backfire.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
McDowell wants Ryder Cup eligibility for LIV's European playersThe DP World Tour would look 'foolish' if European players from the LIV Golf circuit are not considered for this year's Ryder Cup as their American counterparts remain eligible, former U.S. Open champion Graeme McDowell said.Sergio Garcia, Ian Poulter and Lee Westwood, who have played 28 Ryder Cups betwee
Read more »
Britain, Ireland seal Paris 2024 rugby sevens spots at European GamesIreland's men's rugby sevens team and Britain's women's side were among several athletes and teams who sealed qualification for the Olympic Games in Paris next year after they won gold at the European Games in Krakow, Poland last week.The European Games were held between June 21-July 2 and 91 quotas were
Read more »
EU seeks revised GMO rules to loosen curbs on gene-edited cropsBRUSSELS : The European Commission proposed a revision of its rules on genetically modified organisms (GMOs) on Wednesday to provide some loosening of restrictions for plants resulting from newer gene-editing technology.The EU executive said farmers would secure access to climate or pest resistant crops w
Read more »
Climate change, El Nino drive hottest June on recordPARIS — The world saw its hottest June on record last month, the European Union's (EU) climate monitoring service said on Thursday (July 6), as climate change and the El Nino weather pattern looked likely to drive another scorching northern summer.
Read more »
Analysis:China slowdown prompts export-reliant Europe stocks rethinkLONDON : A lack of clarity on Beijing's planned stimulus measures will mean a mixed appetite for European stocks over the rest of 2023, investors say, with China the EU's third biggest export market.From high-end cars to luxury watches, Europe's consumer discretionary and staples, technology, industrials
Read more »
Amazon's iRobot deal in EU antitrust crosshairsBRUSSELS : Amazon's $1.7 billion acquisition of robot vacuum cleaner maker iRobot may reduce competition and strengthen Amazon's position as online marketplace provider, EU antitrust regulators warned on Thursday. The European Commission opened a full-scale investigation and will decide by November 15 whe
Read more »