Shaping sustainable finance: the European Economic and Social Committee's blueprint for a regulation governing ESG ratings | European Economic and Social Committee

Shaping sustainable finance: the European Economic and Social Committee's blueprint for a regulation governing ESG ratings | European Economic and Social Committee

 

The European Economic and Social Committee (EESC) has weighed in on the EU's proposal to regulate environmental, social and governance (ESG) ratings. 

 

In an opinion adopted in October 2023, the EESC emphasises the need for quality standards to combat greenwashing and advocates the mandatory inclusion of the principle of double materiality. 

 

The definitions of "ESG ratings" and "ESG rating providers" need to be refined to exclude certain non-commercial activities from the regulation's scope. Additionally, the Committee recommends establishing an EU sustainability agency. (...)