Sostenibilità e servizi di investimento tra selezione avversa, vaghezza normativa e regolazioni settoriali

The contribution analyzes recent reforms aimed at introducing sustainability factors and preferences into product governance and suitability assessment processes. The contribution highlights that these reforms risk not leading to an adequate development of sustainable finance, since they are supported by a taxonomy on sustainable finance that is still incomplete and by a corporate reporting system that excludes certain companies; the contribution also highlights the sectoral approach to sustainable finance, resulting from the lack of or incomplete consideration of preferences and sustainability factors by regulations on crypto-assets and pan-European individual pension products. As a consequence, in the last paragraph the contribution outlines some of the possible prospects for sustainable finance reform.