EU Cuts ESG Reporting Requirements for Asset Managers by Over 60% on July 3

According to Jin10, the European Commission announced on July 3 that European asset management companies no longer need to report environmental, social, and governance data for all their holdings. Under revised disclosure rules, asset managers with fiduciary responsibilities to clients and managing portfolios under client mandates are exempt from such reporting. The updated European Sustainability Reporting Standards (ESRS) reduce the number of data points companies must report by over 60 percent, as part of the EU's broader effort to simplify reporting requirements and enhance competitiveness.
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