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Τετάρτη 20 Νοεμβρίου 2024

COUNCIL OF THE EUROPEAN UNION,latest news

 

 
 

 

 
 

 
19/11/2024 15:08 | Press release |

Environmental, social and governance (ESG) ratings: Council greenlights new regulation

 

The Council today adopted a new regulation on environmental, social and governance (ESG) rating activities. The new rules aim at making rating activities in the EU more consistent, transparent and comparable in order to boost investors’ confidence in sustainable financial products.

ESG ratings provide an opinion of a company’s or a financial instrument’s sustainability profile, by assessing its impact on society and the environment and its exposure to risks associated with sustainability issues.

ESG ratings have an increasingly important impact on the operation of capital markets and on investor trust in sustainable investment products.

The new rules aim to strengthen the reliability and comparability of ESG ratings by improving the transparency and integrity of the operations that ESG ratings providers carry out and by preventing potential conflicts of interest.

In particular,  ESG rating providers established in the Union will need to be authorised and supervised by the European Securities and Markets Authority (ESMA). They will have to comply with transparency requirements, in particular with regard to their methodology and sources of information. ESG rating providers established outside the Union that wish to operate in the Union, will need to obtain an endorsement of their ESG ratings by an EU authorised ESG rating provider, a recognition based on a quantitative criterion, or be included in the EU registry of ESG rating providers on the basis of an equivalence decision.

The regulation introduces as a principle a separation of business and activities in order to prevent conflicts of interest.

Next steps

The regulation will be published in the EU’s Official Journal and enter into force 20 days later. The regulation will start applying 18 months after its entry into force.

Background

On 13 June 2023, the Commission presented a proposal for a regulation on ESG rating activities. Adoption by the Council follows an agreement reached with the European Parliament at first reading under the ordinary legislative procedure.

 

 

 
18/11/2024 10:21 | Press release |

European Peace Facility: Council tops up support to the deployment of the Rwanda Defence Force to fight terrorism in Cabo Delgado

 

The Council adopted today a €20 million top-up to an existing assistance measure under the European Peace Facility to continue supporting the deployment of the Rwanda Defence Force in the Cabo Delgado province of Mozambique.

This support will enable the acquisition of personal equipment, and cover costs related to the strategic airlift needed to sustain the Rwandan deployment in Cabo Delgado.

This deployment started in July 2021 at the request of Mozambican authorities, to support the fight against terrorism in Cabo Delgado.

“The presence of the Rwanda Defence Force troops has been instrumental to make progress and remains key, especially given the recent withdrawal of the Southern African Development Community Mission in Mozambique (SAMIM). This top-up measure is a testimony of the EU’s support to ‘African solutions for African problems’ and, as part of the global fight against terrorism, it will also serve EU interests in the region.”

— Josep Borrell, High Representative for Foreign Affairs and Security Policy

The additional support adopted today further complements the parallel assistance measure worth €89 million for the Mozambican Armed Forces previously trained by the EU Training Mission (EUTM) Mozambique.

Background

The European Peace Facility was established in March 2021 to finance EU external actions with military or defence implications, with the aim of preventing conflict, preserving peace and strengthening international security and stability. In particular, the EPF allows the EU to finance actions designed to strengthen the capacities of third states and regional and international organizations as regards military and defence matters.

 simplifies procedures.

“This regulation will ensure a continued high level of plant health protection throughout the EU and protect us from phytosanitary threats. The revision also cuts red tape and streamlines the existing rules, which will benefit national authorities, as well as operators in the sector.”

— István Nagy, Hungarian Minister for Agriculture

Main elements

One of the ways in which the revision improves the existing framework and better protects the health of plants is through the creation of a Union plant health emergency team. The team will be made up of experts specialised in plant health who can provide assistance in the event of new outbreaks of pests in the EU. The team can also provide neighbouring non-EU countries with urgent assistance and expertise in the case of outbreaks, with a view to preventing harmful plant pests from entering the EU.

Furthermore, the revised regulation reduces the administrative burden for competent authorities by increasing the duration of their multiannual survey programmes. These will now cover a period of five to ten years, instead of the current five to seven years. To ensure the timely detection of pests, these programmes are reviewed and updated when necessary, in order to respond efficiently to the phytosanitary situation.

Increased digitalisation will also cut red tape for operators and national authorities alike.

Next steps

The formal adoption today marks the final step in the ordinary legislative procedure.

The regulation will now be signed and published in the Official Journal of the EU. It will enter into force on the 20th day following its publication.

Background

The plant health law (regulation 2016/2031) is the basic legal framework for the EU's plant health policy. It aims to prevent the entry and spread of new plant pests (so-called 'Union quarantine pests') and protect against pests already present in the EU ('regulated non-quarantine pests'). It entered into application on 14 December 2019.

The Commission submitted its proposal for revising the existing rules on 17 October 2023, taking into account the experience gained by operators in the implementation of the plant health law.

The two co‑legislators, the Council and the European Parliament, reached an agreement on the final wording of the revised regulation on 5 March 2024.