The European Commission is exploring the possibility of introducing a new label which encompasses all Environmental, Social and Governance (ESG) pillars. This builds on the success of EU Paris-aligned benchmarks and EU climate transition benchmarks, which incorporate climate objectives related in particular to greenhouse gas emission reductions and the transition to a low-carbon economy. The objective of such an EU ESG benchmark label would be to bring more clarity to the market, meet the demand of asset managers and investors, channel capital flows towards more sustainable investments, and further help tackle ESG-washing.
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