Cyprus Proposal Exempts Hedge Funds From EU ESG Labels for Professional Investors
Updated
Updated · Bloomberg · Jun 24
Cyprus Proposal Exempts Hedge Funds From EU ESG Labels for Professional Investors
1 articles · Updated · Bloomberg · Jun 24
Summary
Alternative asset managers selling to professional investors would be spared an EU requirement to classify products as ESG or non-ESG under a draft Cyprus proposal seen by Bloomberg.
Hedge funds are the main beneficiaries of the carveout, which would remove them from a categorization regime otherwise aimed at investment managers in Europe.
Cyprus, holding the EU’s rotating presidency, put forward the recommendation, signaling another potential exemption for hedge funds from the bloc’s sustainable-finance rules.