The American Chamber of Commerce to the European Union (AmCham EU) supports a well-functioning global capital market which integrates environmental, social and governance (ESG) considerations. The proposal to introduce a regulation on the transparency and integrity of ESG rating activities (ESG Ratings Regulation) can support this objective if it takes a proportionate approach to implementing the international standards developed by the International Organization of Securities Commissions (IOSCO).
With this objective in mind, the draft text of the regulation can be improved during the co-legislative process in the following ways:
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