Insurers Warn Against EU 'Sustainable Preference' Scheme

Law360, London (July 27, 2020, 12:54 PM BST) -- European insurers and banks have warned the European Commission that its plan to enforce strict new rules governing which investments financial services companies can offer to customers, based on their environmental impact, could undermine efforts to make the financial sector more sustainable.

Insurance Europe, a trade body representing the sector, alongside banking trade groups including the European Association of Co-operative Banks and the European Banking Federation, have warned that a proposed regime setting out which investments can be considered sustainable is too restrictive.

"Our associations are supportive of the European Commission's aim to create a strong framework for sustainable investment that...

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