Pictet Asset Services has launched an environmental, social, and corporate governance (ESG)-dedicated website for third-party asset managers to help them navigate the upcoming EU Action Plan (EUAP) regulations for sustainable finance.
The online platform will guide clients through all applicable compliance criteria regarding the integration of ESG characteristics or definition of sustainable investment objectives.
The EUAP, and the EU new Sustainable Financial Disclosure Regulation (SFDR), which comes into effect in March 2021, impose new transparency obligations and periodic reports at both product and manager level.
The dedicated website allows Pictet Asset Services clients to proactively assess the requirements associated with their ESG transition.
The platform will focus on three pillars.
The first is around a client awareness role of providing the relevant information from the five main regulatory dimensions of the EUAP: SFRD, taxonomy, UCITS and the Alternative Investment Fund Managers Directive (AIFMD), the second Markets in Financial Instruments Directive (MiFID II) and Carbon Benchmarks.
Pictet explained that this allows clients and prospects to gather relevant information and make informed decisions noting that the requirements will differ depending on the ESG strategies targeted by each asset manager.
The second part of the platform details the offering and support services that Pictet Asset Services can provide, as well as the implementation timeline.
The final section of the web platform is reserved for clients and prospects.
Pictet noted that it is an online self-assessment designed to either support their transition towards more ambition ESG strategies or consolidate their current investment approach within the SFDR requirements. A concrete ESG implementation roadmap is provided, in line with each asset managers’ product strategy.
Marc Briol, CEO of Pictet Asset Services said, “This is a crucial effort on our way to a greener economy. Third party fund managers are among our principal business-to-business clients and we are thrilled to offer them this unique service and facilitate their ESG transition. As their sparring partner, we accompany our clients every step of the way while navigating this regulatory transition.“
Commenting on the EUAP, Briol said, “The EU Action Plan on Sustainable Finance is an important and necessary step. Our goal is to try to preserve boutique asset managers that don’t necessarily have the adequate infrastructure to tackle these ESG regulatory complexities.”
