AMWatch

Bankers demand clarity as Swedish watchdog balks at ESG rules

In a consultation response to the Swedish finance ministry, the Financial Supervisory Authority in Stockholm says the EU's new taxonomy requirements would place an unreasonable burden on the watchdog.

Director General of the Financial Supervisory Authority in Sweden Erik Thedéen. | Photo: PR Finansinspektionen.

In Sweden, where green bonds were pioneered, a warning from the financial regulator that it may not have the necessary tools to enforce new European Union sustainability rules has members of the financial industry voicing frustration and dismay.

In a consultation response to the Swedish finance ministry, the Financial Supervisory Authority in Stockholm says the EU's new taxonomy requirements would place an unreasonable burden on the watchdog. The letter is signed by Director General Erik Thedéen, who's also chair of the International Organization of Securities Commissions' task force on sustainable finance.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

SSGA launches HY index fund with ESG screens in effort to convert active investors

95 percent of active global high-yield managers struggle to consistently add value net of fees, according to the world's fourth-largest asset manager ahead of launching a global HY index fund. However, a recent survey by consultancy Kirstein showed a vast majority of Nordic investors preferring their HY portfolios actively managed.

Further reading

Related articles

Latest news

See all jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch