The Brazilian entity, supported by iCS, sent contributions to the European public consultation for the potential first regulation in the world regarding environmental, social and governance risk classifications

The European Commission received contributions from Soluções Inclusivas Sustentáveis ​​[Sustainable Inclusive Solutions](SIS) for the public consultation with respect to the world’s first regulation regarding ESG ratings (the classification of risks related to Environmental, Social and Governance). The entity believes that key issues were not addressed in the proposed EU regulation to guarantee the usefulness and reliability of the ratings for investors. Among the proposals offered to fill this gap are: concepts of materiality, with information about the objective of the rating and clarifying whether it only assesses financial risks and impacts arising from climate, social or environmental factors or all the climate, social and environmental risks and impacts arising from the activities of the company; and to assess the conformity with the regulations of the jurisdiction in which the company in question operates; among others.

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