by Lieve Lowet & Lorenz Van Roosbroeck

Having understood the social element of (un)sustainability, we tackle the second issue which advances the integrative understanding of the AAIEI over the disjointed logic present within ESG deliberations. In our March blog post, intergenerational equity was praised for its integrative element; it grasped environmental issues as a social issue. Instead, the dominant deliberative culture surrounding ESG tends to discuss environmental -and social issues in isolation of one another, which masks their interrelation. Here, the layered, relational aspect of sustainability is concealed, presenting it instead as an exercise in compliance. However, while it is practically important to respect the analytical distinction between society and nature, sustainability at large is only theoretically intelligible from the vantage point of their interrelation. Therefore, one has to open up the context of ESG, something which the AAIEI achieves. Continue reading…

In her speech at the Data Science Conference of the DNB Data Science Hub, Nicole Stolk addressed several preconditions for being a data-driven organisation. As one of the Executive Board Members of De Nederlandsche Bank, it is my pleasure to welcome you to Amsterdam and in particular to this conference. We have high hopes and feel this is an important and fruitful subject. Me being here goes beyond just delivering a few standard remarks. Becoming a data-driven organisation cannot be achieved overnight. It is a journey, and I have been traveling with you for quite some time. I am not a data scientist myself, but I do see the potential value of basing our policy decisions and supervision more firmly on data-driven analyses. But this value can only be realised if we are comfortable with using data science in our daily work. Part of this sense of comfort will come if we can change the way we work. This involves a marked culture change which could be the topic for the next conference.    Continue reading…

During the International Risk Congress in Brussels, presenter and moderator Dina-Perla Portnaar had the opportunity to talk with one of the speakers, the CFO of Icoinic Capital and former compliance manager at ING, Egbert Krop. The conversation centred on cryptocurrency and compliance.

Egbert Krop stated: “crypto is a community-driven industry. We are definitely in the bubble now, but remember that the cryptocurrency market is like the internet used to be in the beginning. There will be waves, but cryptocurrency is here to stay.”

Egbert Krop also talked about how transparent and self-regulating the world of cryptocurrency is, and about the fact that NFTs form an immature market. Yet, it is an interesting market indeed. Tip is to only invest in cryptocurrency with money that you can afford to lose.

Dina-Perla Portnaar

A new European strategy for a Better Internet for Kids (BIK+) was adopted by the Commission to improve age-appropriate digital services and to ensure that every child is protected, empowered and respected online. Looking back at the last ten years, digital technologies and the way children use them have changed dramatically. Most children use their smartphones daily and almost twice as much compared to ten years ago. Children also use them from a much younger age (see EU Kids online 2020). Using all sorts of devices bring opportunities and benefits, allowing children to interact with others, learn online and be entertained. Yet these gains are not without risks, such as the dangers of exposure to disinformation, cyber bullying (see JRC study) or to harmful and illegal content, from which children need to be sheltered. Continue reading…

The European Central Bank (ECB) recently published amendments to its guidelines on the implementation of monetary policy in the Eurosystem. The amended guidelines make the following changes:

The first step in gradually phasing out the pandemic collateral easing measures introduced in April 2020 as announced on 24 March 2022. Clarification of the eligibility criteria for sustainability-linked bonds and asset-backed securities (ABSs), as decided by the Governing Council on 4 February and 17 June 2021, respectively. Provisions that apply in the event of the activation of the Enhanced Contingency Solution (ECONS) under the TARGET2 system.

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When your organisation fosters a culture of compliance with strong security mandates, it sets a standard for employees, customers and vendors to follow that becomes a part of everyday corporate life. Acting ethically promotes integrity and helps organisations gain trust from key stakeholders and investors. You may think it’s easier said than done. But there are several distinct ways to take steps to comply with relevant laws, policies and regulations. At Legility’s virtual Symposium 2020, the need for ethical compliance and security was the focus of a panel discussion led by legal experts with firsthand knowledge of how to create this culture. Moderated by Legility, the panel included Carlos Provencio and Eduardo Provencio, who are brothers as well as lawyers working in highly regulated industries. The key, they all agreed, was to make regulatory compliance, security and business ethics matters essential, unwavering activities. Continue reading…

by Lieve Lowet & Lorenz Van Roosbroeck

In our March blog post we wrote about the Australian Actuaries Intergenerational Equity Index (AAIEI) for two main reasons. First of all, the index emphasises the issue of social sustainability — which, at present, tends to be overshadowed by the issue of environmental sustainability. Secondly, the AAIEI successfully reads environmental sustainability as something related to social sustainability. This was welcomed because of its break with the dominant deliberative culture surrounding ESG, where discussions deal with environmental -and social issues in isolation of one another, effectively masking their interrelation. This blogpost delves deeper into both matters from a more theoretical angle. Continue reading…

Last Thursday, the European Commission has published the tenth edition of the 2022 EU Justice Scoreboard, an established annual overview providing comparative data on the efficiency, quality and independence of justice systems in the Member States. For the first time, this year’s Scoreboard also includes data on the effects of the COVID-19 pandemic on the efficiency of justice systems, as well as regarding accessibility to justice for persons with disabilities and with a strengthened business dimension. Vice-President for Values and Transparency, Věra Jourová, said: “The EU Justice Scoreboard provides invaluable insights into our justice systems and helps us place the focus where it matters most: ensuring that the rule of law is protected across the European Union. The fact that since last year the public perception of judicial independence has decreased in about half of Member States is concerning and shows that we all need to act to restore trust of the public in the judicial system.”
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Eurojust has supported the Italian and Bulgarian authorities to counter an elaborate tax scam of at least EUR 69 million. During an action day, 26 suspects were identified who had illegally changed or ‘cloned’ Italian into Bulgarian enterprises, to avoid paying tax. A hotel and other properties, as well as other assets with a total value of EUR 11 million, were seized. The operation was the result of a joint investigation team (JIT) between the two authorities concerned, which was set up with the assistance of Eurojust. Continue reading…

The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has on April 29th advised the European Commission on certain aspects relating to retail investor protection. In the advice ESMA puts forward, proposals that will make it easier for investors to get the key information they need to take well-informed investment decisions, whilst also protecting them from aggressive marketing techniques and detrimental practices.  Continue reading…