Europe: Pressure Grows on Regulators to Scrutinise ESG Data Providers

Pressure is growing on regulators to formally scrutinise the data and rating providers who award investments high or low scores on environmental, social and governance (ESG) principles.

An influential member of an advisory board to the European Commission has added his voice to calls for ESG data and ratings providers to be regulated amid growing concerns about greenwashing in the asset management sector.

Pierre Bollon, who serves on the European Economic and Social Committee (EESC) and is a general representative of AFG, the French Asset Management Association, said data providers were playing an increasingly important role in the investment industry and should be subject to the same regulatory scrutiny as other parts of the financial services sector.

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