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In November, together with CFA Society Netherlands, we hosted the Inclusive Leadership Today event. Throughout the day, we explored how inclusive leadership strengthens decision-making, enhances investment outcomes and builds resilience in times of change. An inclusive culture creates space for open dialogue - a key driver of success in investment management. A message that stood at the heart of the event. We are proud to look back on an inspiring and successful event.
On December 4, the European Commission published the Market Integration & Supervision Package (the "MIP Package"). The package is part of the broader Savings and Investments Union agenda and underlines the ambition to mobilize capital more efficiently within the EU. With this package, the Commission is taking an important step towards further integration of European capital markets, with the aim of facilitating cross-border capital flows and reducing market fragmentation. For our sector, the MIP package contains several relevant components. The package offers opportunities to contribute to a better functioning internal market, in which cross-border activities are simplified and European asset managers can further strengthen their role in financing the economy. Last summer, we from DUFAS responded to the consultation.
On Nov. 20, the European Commission published the Supplementary Pensions Package. This package consists of legislation reviewing both IORP II and PEPP, supplemented by a number of recommendations to member states around auto-enrolment and improving their pension information and tracking systems.
To ensure our broad prosperity and earning power into the future, the Netherlands needs greater economic resilience. The necessary investments in and financing of digitalization, defense and the energy transition, among other things, require actions and measures to give the financial sector the role it can and wants to play. This call is made by a broad coalition of business and financial sector organizations to the informateur, the negotiating parties and politics and society at large.
The Omnibus dust has not yet settled, or the European Commission has already published its next major proposal in late November, for revisions to the Sustainable Finance Disclosure Regulation (SFDR). The SFDR was one of the first building blocks of the European Sustainable Finance Framework in 2019. Because it regulated transparency around sustainable financial products by law, the SFDR made an important contribution to the further integration of sustainability into financial products and services. In practice, however, imperfections soon came to light. So it was high time to better align the SFDR with the needs of customers and providers of financial products.
The European Commission is gathering input for improvements to the EU taxonomy, the classification system that establishes criteria for environmentally sustainable economic activities. The taxonomy is an important tool and is at the heart of the EU's sustainable financing framework.
The formation is underway. Formateur Buma is in talks with D66 and CDA to arrive at a substantive agenda for the remainder of the formation. Recently we sent a letter with our input for the formation table. This is in line with the earlier letter we wrote in the run-up to the elections.
The world of pensions and asset management is a world of creamy white, highly educated men in suits. It is a prejudice. At the same time, it is hard to deny that there is a grain of truth in it. If you want to convince people of individual investing as an alternative to saving, it doesn't help if they don't identify with it. Lisanne Molina and Ric van Weelden advise DUFAS on how to deal with this. They have some tips for anyone working in this sector.
Agathi Pafili, Vice President and Head of Government Relations Europe at Capital Group, sees an important role for the asset management sector in light of the European Commission's ambitions on the Savings and Investment Union. Capital Group has joined DUFAS this summer. For an international asset manager like Capital Group, it is essential to work together with associations like DUFAS in both Brussels and the Netherlands, ensuring that the sector's perspectives are well-represented in shaping Europe's financial future.
Every two years, DUFAS appoints new chairs for its committees.
