On 25 October, the European Economic and Social Committee adopted a report by Krzysztof Balon on the transparency and integrity of Environmental, Social and Governance (ESG) ratings, on which Better Europe’s senior consultant Yiorgos Vassalos acted as advisor to the rapporteur. In the report, the EESC recommends the adoption of minimum quality requirements for ESG ratings, such as the mandatory inclusion of the assessment of company impact on people and the environment (double materiality). It also proposes reinforcing the provisions against conflicts of interest, improved transparency by moving more information on the methodology of ratings to the public domain, and a lot more. The full EESC opinion was adopted in plenary with 166 votes in favour, 2 against, and 2 abstentions, and several Members of the European Parliament have integrated…

Just one day ahead of the European Parliament's deadline for amendments, the European Economic and Social Committee adopted a report from Kestutis Kupsys on the Commission's Retail Investment Strategy, on which Better Europe's director Joost Mulder acted as advisor to the rapporteur. In the report, the EESC recommends basic products to be extended to provide a benchmark for product manufacturers to do better; to increase training requirements for people selling financial products who often themselves do not fully understand the complex products they are selling, including on sustainability matters; to measure and disclose the actual sustainability impact of investments; to always offer a sustainable product in investment advice situations, with a default for the sustainable option, and much more. The full EESC opinion was adopted in plenary with 209 votes…

The current European Parliament (2019-2024) is coming back to work after its last summer recess, in view of a very busy autumn into the Brussels bubble. With the official date of the last plenary session now set for 22-25 April 2024, the final countdown before the 2024 elections, which will bring forward a brand-new European Parliament, has officially begun. Summer developments The two major European political parties, the centre-right European People’s Party (EPP) and the Progressive Alliance of Socialists and Democrats (S&D), show two different trends according to the July polls. The EPP continues to lose another 4 seats compared to earlier polls, bringing it down to 157 seats, and S&D recovers a bit, to 143 seats. The race for third place goes on as the liberal Renew Europe group…