ICMA AMIC responds to ESMA's public consultation on Article 8 of the Taxonomy regulation
4 December 2020 ICMA AMIC submitted its response to ESMA's public consultation on Article 8 of the Taxonomy regulation which requires companies in the scope of NFRD (i.e. large listed companies ) to disclose their level of taxonomy alignment (turnover, capex, opex) in their non-financial statement. This consultation focuses on non-financial issuers and asset managers as EBA and EIOPA are looking at banks, insurers and pension funds in separate consultations. Regarding asset managers, ICMA’s response recommends a look-through approach focusing on investment funds with sustainability claims, the consideration of all green bonds (including the ones aligned with the Green Bond Principles) and other relevant assets which can be assessed against the taxonomy, and the optional use of proxies for non-listed issuers.