ICMA AMIC submits response to the EC consultations on the integration of sustainability risks in UCITS, AIFMD and MiFID
6 July 2020 AMIC submitted its response to the EC consultations on the integration of sustainability risks in UCITS, AIFMD and MiFID. In its reponse AMIC fully supports the integration of sustainability risks among other risks to be considered by fund managers and investors, which can indeed affect the return of assets and portfolios. It also recalls the urgent need to review NFRD in order to provide fund managers with audited and reliable data from issuers and argues that until this is completed the assessment of sustainability risks to be presented to end-clients should be allowed on qualitative basis. Finally, the response urges the EC not to limit the scope of sustainable products available to investors via distribution rules and recall the need for a certain degree of flexibility to meet different needs and preferences from investors (notably from a risk management perspective).