EIOPA has identified the share of workplace pension funds’ investments that align with the EU taxonomy for environmentally sustainable activities.
According to the supervisory authority’s analysis, 4.5% of the pension funds’ direct equity and corporate bond investments in the European Economic Area are currently aligned with the taxonomy. Another 26.1% are eligible for alignment.
Looking only at the corporate bonds, 9% of the investments meet the criteria for alignment and 42% are eligible.
For equity investments the figures are lower, with 1% aligned and 15% eligible.
The information was published in the form of a ’factsheet’, a publication format EIOPA has been using to either support new, more in-depth publications or to present data from its statistics webpage in a more accessible way than raw Excel spreadsheets.
A spokesperson for EIOPA said the factsheet on the alignment with the EU taxonomy falls into the latter category and “does not specifically indicate a new or renewed focus on green investments beyond EIOPA’s stated commitment to fostering sustainability in our sectors”.
The EU taxonomy framework has been in place for several years. Starting this January, corporates and the financial sector have to disclose how their activities and portfolios stack up against the taxonomy.
The European Commission’s sustainable finance advisory body is continuing work on technical criteria for the expansion of the taxonomy to non-climate objectives, while also reviewing data and usability issues with the existing framework.
The latest digital edition of IPE’s magazine is now available
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