UK should streamline Europe’s key ESG test, advisory group says

Still evolving: The first traditional London telephone box to be transformed into a solar-powered mobile phone charger for use by the public is seen in London. Britain is playing catch up with the EU in ESG regulatory framework. — AFP

LONDON: A cornerstone of the European Union’s (EU) sustainable finance package should be streamlined by the United Kingdom to make it more useful to the market, according to the expert panel advising the government.

The EU rule that stipulates a sustainable investment should “do no significant harm (DNSH)” lacked clear definitions and binary disclosure requirements, the Green Technical Advisory Group (GTAG) said in a statement yesterday.