The Roadmap identifies three priorities for ESMA:
- Tackling greenwashing and promoting transparency
The combination of an increasing demand for ESG investments and rapidly evolving markets creates room for greenwashing. Greenwashing is a complex and multifaceted issue which takes various forms, has different causes and has potential to detrimentally impact investors looking to make sustainable investments. Investigating this issue, defining its fundamental features and addressing it with coordinated action across multiple sectors, finding common solutions across the EU, will be key to safeguarding investors.
- Building NCAs’ and ESMA’s capacities
The growing importance of sustainable finance requires ESMA and national competent authorities (NCAs) to acquire new skills beyond their traditional areas of focus to understand and address the supervisory implications of new legislation and of novel market practices.
- Monitoring, assessing and analysing ESG markets and risks
The objective is to identify emerging trends, risks and vulnerabilities that can have a high impact on investor protection and on financial market stability. ESMA will leverage on its data-analysis capabilities to support its own and NCAs’ supervisory work and to promote a convergent approach among NCAs.
Click here for more information on the Roadmap priorities.