EFAMA, the voice of the European investment management industry, believes that, for retail clients, standardised disclosure of information can improve the comparability of financial products that promote environmental and/or social characteristics or have a sustainable objective. It will also contribute to the broader policy objectives of the Sustainable Finance Disclosures Regulation (SFDR) to enhance transparency towards end-investors, hold market participants accountable and fight greenwashing.

EFAMA, the voice of the European investment management industry, strongly supports the initiative to establish an EU Green Bond Standard (GBS). We believe that, thanks to the recommendations made by the TEG, the GBS has a great potential to effectively play its important role in financing assets needed for the low-carbon transition.

EFAMA comments the IASB's Exposure Draft (ED/2017/7). It supports IASB's efforts to improve consistency in the layout of the primary financial statements and the relevance of financial statements.

Proposals around new defined sub-totals and line items will improve consistency and will assist in the implementation of electronic reporting format initiatives.

EFAMA appreciates the Commission's efforts in pursuing an alleviation of certain MiFID II requirements in the interest of promoting a swift recovery from the economic crisis precipitated by the Covid-19 pandemic (....).

EFAMA believes however that there are more effective ways to foster SME access to markets and urges the Commission to consider a set of further measures (...)