ESG & Investing

Asset Managers Win Right to Drop ESG Reporting in EU Proposal

A European Union (EU) flag next to the European Commission building in Brussels, Belgium, on Friday, Nov. 10, 2023. Eurozone countries and the European Central Bank need to coordinate fiscal and monetary policies as they strive to bring inflation down to the ECB’s target of 2%, according to Belgian Finance Minister Vincent Van Peteghem.Photographer: Simon Wohlfahrt/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Frances Schwartzkopff

May 6, 2026 at 3:58 PM UTC

Updated on

May 7, 2026 at 8:27 AM UTC

The European Commission is proposing that money managers be exempt from a requirement to report ESG data on the assets they hold on behalf of clients.

In a fresh rewrite of the bloc’s sustainability reporting standards, the European Union’s executive arm has proposed that any firm managing investments on behalf of clients and “without retaining risks or rewards of ownership” shouldn’t have to provide data on those investments.