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Hello, Welcome to the sustainable investing Update on Asset TV I'm Rory Palmer making the headlines this week Impacts environmental markets issue €60 million of private notes to repay debt, and M and G chooses Michael van der Me as its head of sustainability.

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First up, the European Commission has adopted the European sustainability reporting standards, however, amendments including a downgrading of some disclosures from mandatory to voluntary the phasing in of some disclosures such as Scope three and the ability for companies to decide what is or isn't material have been called a compromise by sustainable investment commentators.

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The reporting standards outline the ESG reporting requirements for Corporates as part of the Corporate Sustainability Reporting Directive, which is expected to come into force for the 2024 reporting year and the first submissions due in 2025. And they cover EG issues including climate change, biodiversity and human rights, aiming to provide information for investors to understand the sustainability impact of the companies in which they invest.

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Next up. The London listed Environmental Investment Trust impacts Environmental markets said it issued €60 million of privately placed notes, proceeds of which will be used to repay debt and provide an element of structural debt. Now the three tranches are notes of 2030 €10 million maturing in September 2030 33 and 2035 respectively,

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the proceeds of which will be used to repay drawn debt of €32.2 million.25 million pounds provided by the Bank of Nova Scotia, which expires on September 6th.

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Elsewhere, Michael van der Meer has been named head of sustainability at M and G Asset Management. Mr Van der Meer took responsibility, effective July the 10th for leading the stewardship and sustainability efforts, including research and integration within the asset management business. He'll be based in Zurich and reporting to Fabiana Fedeli CIO of equities, Multi asset and sustainability. He was previously head of sustainable investment analysis within Credit Suisse's global wealth management business.

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Well, that's all we have time for in this update. I'll see you here on asset TV for more news on sustainable investing next time