In response to the release of the EU expert group’s recommendations on the future of sustainable finance in the Union, Bethan Livesey, Head of Policy at ShareAction, says: “We welcome the HLEG’s report, which draws together some of the key areas for building a sustainable financial system. We are particularly pleased to see the strong focus on clarifying investors’ duties, something that ShareAction has been pushing for since 2010. It is great to see the EU showing leadership in this area and we urge the Commission to now adopt a strong legislative proposal.

“Ordinary people should be at the heart of a sustainable financial system that serves society. We welcome the recognition that beneficiaries’ interests are not limited to financial returns only. In ShareAction’s experience, ordinary savers may not always connect with the technical elements of finance, but they often care deeply about the impact it has on the environment and communities around them. We also welcome the renewed focus on retail investors, which was missing from the Interim Report. An accountable and strong Capital Markets Union will only be possible if retail investors can be confident that their money is invested responsibly. We congratulate the HLEG for this inclusion.”

For more information, please contact Eleni Choidas at eleni.choidas@shareaction.org