Kairos among the supporters of ESRS safeguard
Kairos, confirming its responsible commitment to support the values promoted by the PRI, endorsed a call promoted by Eurosif (European Sustainable Investment Forum), PRI (Principles for Responsible Investment), IIGCC (Institutional Investors Group on Climate Change), EFAMA (European Fund and Asset Management Association) and UNEP FI (United Nations Environment Program Finance Initiative) addressed to the European Commission for safeguarding the cardinal principles of the ESRS.
The statement collects the concern, shared among the main industry players, about the implementation of this regulation, originally born to address data gaps across the EU sustainable finance rules, but which now seems to veer towards a less stringent approach, reducing the ability of financial market participants to fulfill their respective disclosure obligations, making the disclosure of some risk indicators optional.
This approach, as reported in the letter to the European Commission, represents a significant step backwards compared to the ambitious plan promoted by EFRAG which also undermines investors’ access to consistent, comparable and reliable data, essential information for making capital allocation in line with sustainability objectives.