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Clifford Chance

Clifford Chance


European Commission Adopts Long-Awaited Amendments for Asset Managers, Insurers and Insurance Distributors on ESG Integration

10 May 2021

On 21 April 2021 the European Commission adopted a package of measures to help improve the flow of money towards sustainable activities across the European Union. The package comprised:

  • The European Taxonomy Climate Delegated Act;
  • A proposal for a Corporate Sustainability Reporting Directive (you can read our briefing on this development here); and
  • Six amending Delegated Acts (Delegated Acts) on fiduciary duties, investment and insurance advice covering amendments to the AIFMD, UCITS, MiFID II, IDD and Solvency II frameworks.

This briefing provides an overview of what the Delegated Acts entail, and their impact on UK-based asset managers, insurers and insurance distributors.

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