8 Amendments of Alain LAMASSOURE related to 2018/0179(COD)
Amendment 67 #
Proposal for a regulation
Recital 6
Recital 6
(6) Since sustainabilityWhen benchmarks serve as standard points of reference againstfrom which sustainable investments are measuredconstructed (as it is the case for index-investing), end- investors should be informed by means of pre-contractual disclosures about the appropriateness of the designated index, namely the alignment of that index with the sustainable investment target. Financial market participants should also disclose the reasons for different weighting and constituents of the designated index compared to a broad market index. To further foster transparency, financial market participants should also indicate where the methodology used for the calculation of the designated index and the broad market index is to be found, so that end-investors have the necessary information on how the underlying assets of the indexes were selected and weighted, which assets were excluded and for what reason, how sustainability-related impacts of the underlying assets were measured, or which data sources were used. Such disclosures should allow for effective comparison and contribute to develop a correct perception of sustainably-friendly investments. Where no index has been designated as a reference benchmark financial market participants should explain how the sustainable investment target is reached.
Amendment 76 #
Proposal for a regulation
Recital 9
Recital 9
(9) The current disclosure requirements set out by Union legislation do not provide that all the information necessary to properly inform end-investors about the sustainability-related impact of their investments must be disclosed. Therefore, it is appropriate to set out more specific disclosure requirements with regard to sustainable investments. For instance, the overall sustainability-related impact of financial products should be reported regularly by means of indicators relevant for the chosen sustainable investment target. Where an appropriate index has been designated as reference benchmarknd its underlyings are used for the construction of the financial products, that information should also be provided for the designated index and to a broad market index to allow for comparison. Information on the constituents of the designated index and of the broad market index along with their weightings should also be disclosed, to provide further information on how the sustainable investments targets are achieved. Where EuSEF managers make available information on the positive social impact targeted by a given fund, the overall social outcome achieved and the related methods used in accordance with Regulation (EU) No 346/2013, they may, where appropriate, use this information for the purposes of the disclosures under this Regulation.
Amendment 124 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Financial market participants shall publish written policies on the integration of sustainability risks in the investment decision-making process on their websites. In cases where the integration of sustainability risks is not relevant to the investment strategy adopted, financial market participants should explain why those risks are not taken into account.
Amendment 185 #
Proposal for a regulation
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
1. Where a financial product has as its target sustainable investments or investments with similar characteristics, and an index has been designated as, and is constructed using the underlying investments of a reference benchmark, the information to be disclosed pursuant to Article 4(1) shall be accompanied by the following:
Amendment 191 #
Proposal for a regulation
Article 5 – paragraph 1 – point b
Article 5 – paragraph 1 – point b
Amendment 221 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) where an index has been designated as a reference benchmark, a comparison between the overall impact of the financial product with the designated index and a broad market index in terms of weighting, constituents the financial product has been constructed following an index, the overall sustainability-related impact of the benchmark by means of relevandt sustainability indicators.
Amendment 231 #
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
Article 9 – paragraph 2 – subparagraph 1
Amendment 233 #
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2