Europe Risks Political Retreat on ESG, Bond Lobby Group Says
- Right-wing governments could reduce emphasis on ESG regulation
- Covered bonds currently face increased ESG disclosure rules
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There is a risk that European politicians will place less emphasis on environmental, social and governance finance as more right-wing governments come to power across the continent, according to an industry body.
The focus on ESG financial regulation is already dropping from the rhetoric of senior European Council members and could fall further down the agenda after a new European parliament is elected in June 2024, according to Luca Bertalot, secretary general of the European Covered Bond Council (ECBC).