EU launches Trade and Investment Dialogue with Trans-Pacific bloc
Today, in Australia, EU Trade Commissioner Maroš Šefcovic launched, together with his twelve counterparts, the first EU-CPTPP Trade and Investment Dialogue, reaffirming their joint commitment to open, rules-based trade, while delivering tangible results. This is an important milestone, as the EU and the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) represent 32% of global GDP and 37% of global trade. The EU-CPTPP Trade and Investment Dialogue will cover result-oriented cooperation between the two blocs in five key areas: trade diversification, digital trade, trade and investment facilitation, supply chain resilience and the global trade environment, including World Trade Organisation reform.
Maroš Šefcovic, Commissioner for Trade and Economic Security, said: ‘As the world’s largest trading bloc – with a global trade share of close to 16% – the EU remains committed to an open, rules-based and stable trade environment. Our reinforced cooperation with CPTPP partners therefore speaks volumes about the importance of our shared approach to trade. But this goes beyond a symbolic signal, as we are now set to focus our efforts on clear, mutually beneficial results across the five priority areas.’
On the margins, Commissioner Šefcovic held a bilateral meeting with Australian Minister Don Farrell to review the teams’ work on strengthening bilateral trade and investment relations. He also exchanged with Minister Madeleine King on accelerating EU-Australia cooperation on critical minerals, focusing on real, timely projects. This cooperation is central to our economic security agenda, with Australia’s strong capacity and shared high standards seen as key assets.
The Joint EU-CPTPP statement is available online.
(For more information: Arianna Podestà – Tel. +32 2 298 70 24; Marta Perez-Cejuela Romero – Tel.: +32 2 296 37 70)
Commissioner Jørgensen welcomes the Housing Advisory Board’s input for the European Affordable Housing Plan
The Commission welcomes the Housing Advisory Board’s recommendations on how to tackle the ongoing housing crisis that affects millions across Europe. Appointed by the Commission in June, this expert group was tasked with providing concrete policy recommendations to support the Commission in the preparation of the European Affordable Housing Plan.
The recommendations, published today, address topics ranging from social housing and protecting the most vulnerable to construction and urban planning. They add up to the over 13,000 responses received through the recent public consultation, and underline the need to deliver on one of the most important challenges the EU is facing.
Commissioner for Energy and Housing, Dan Jørgensen, welcoming the Board’s efforts, said: ‘I am deeply grateful to the Housing Advisory Board for providing such high-quality expertise in record time. Their contribution strengthens my resolve to put forward an ambitious and comprehensive European Affordable Housing Plan that offers relief, dignity, and opportunity to citizens across Europe. The Board’s ideas and insights light the path toward real, lasting change for our continent. Too many are suffering from this crisis: now is the time to act.’
Planned for adoption by the end of the year, the Plan will outline actions to make housing in Europe more affordable, sustainable and of good quality. It will support EU Member States, regions, and local authorities in overcoming systemic issues and facilitating both public and private investments, to ultimately make sure everyone in Europe has a place to call home.
More information on the recommendations is available online.
(For more information: Anna-Kaisa Itkonen – Tel.: +32 2 295 75 01; Cristiana Marchitelli – Tel: +32 2 298 94 07)
Digital Services Act report lays out landscape of systemic risks online
European regulators, the European Commission and the Board of the Digital Services Coordinators, enforcing the Digital Service Act published a world-wide first report on the landscape of prominent and recurrent risks on very large online platforms and search engines in the European Union.
The report identifies systemic risks, such as, among others, the spread of illegal content or threats to fundamental rights, occurring on very large online platforms. It also gives a first overview of the mitigation measures taken by platforms, based on the transparency requirements under the DSA.
Key findings cover risks to mental health and to the protection of minors online; the impact of emerging technologies, such as generative AI, on online platforms; and challenges to intellectual property protection on online marketplaces. Among the notable mitigation measures highlighted are, for example, the use of automated systems to detect emojis used as code for illegal activities online, such as the sale of illegal drugs.
The report draws on platforms’ own risk assessment, audit, and transparency reports, as well as independent research on certain risks, and diverse civil society contributions.
It is the first of an annual cycle of risk landscape reports. Future editions will also expand on platforms’ best practices, as more data become available on the effectiveness of risk mitigation strategies, including through research made possible by the delegated act on data access. Over time, this will provide a long-term perspective on the most prominent and recurrent systemic risks in Europe.
The report provides a reference point for understanding systemic risks in the EU stemming from VLOPs and VLOSEs. It constitutes a key tool for transparency and accountability ultimately contributing to a safer and more trustworthy online environment.
(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Patricia Poropat – Tel.: +32 2 298 04 85).
Commission approves new geographical indication from Belgium
Today the Commission adds ‘Boudin blanc de Liège’ from Belgium to its register of Protected Geographical Indications (PDI).
‘Boudin blanc de Liège’ is a white pudding made by processing lean meat and pig fat. During preparation, the mixture must be flavoured with whole leaves of dried marjoram. The mixture is stuffed into natural casings, resulting in a sausage that is traditionally eaten cold, cut into slices.
The dried marjoram leaves are the defining ingredient in ‘Boudin blanc de Liège’. The unique characteristics of this Liégeois sausage result from the precise requirements concerning the quality of the dried marjoram leaves and the special care needed during the drying, stripping and storing of the leaves. Grown in open ground, the leaves must be harvested before flowering and dried spread out on racks out of sunlight.
Marjoram is part of the cultural identity of people from the southern Belgian province of Liège. The herb is used to flavour various local dishes such as Liège-style crayfish, calf’s head and meatloaf. The specific expertise involved in the production of ‘Boudin blanc de Liège’ pre-dates the 20th century and is passed on among Liège butchers, from generation to generation, and through apprenticeship or employment.
This new designation joins the more than 3,691 protected names already listed in the eAmbrosia database. For more information, see the Quality Policy pages.
(For more information: Balazs Ujvari – Tel.: +32 2 295 45 78; Emma Marechal – Tel.: +32 2 299 48 18)
President von der Leyen travels to South Africa for the G20 Summit
The President of the European Commission, Ursula von der Leyen, travels today to Johannesburg to start a week of intense multilateral and bilateral discussions, starting with the EU-South Africa Leaders’ Meeting, the first G20 ever to take place on African soil and then the EU-African Union (AU) Summit in Angola.
This afternoon, together with the President of the European Council, António Costa, President von der Leyen will meet with the President of South Africa, Cyril Ramaphosa, to discuss a new clean trade and investment partnership, as well as new deals on raw materials and projects under South Africa’s pound 12 billion Global Gateway package. Executive Vice-President for Prosperity and Industrial Strategy, Stephane Séjourné, will also participate. Signature ceremonies and a press conference will follow as of 15:25 CET live on EBS.
Tomorrow morning, at 10:30 CET, President von der Leyen and President Costa will hold a joint press conference ahead of the G20 Summit which will be broadcast live on EBS. In the afternoon, she will co-host with President Ramaphosa the final pledging event of the ‘Scaling Up Renewables in Africa’ campaign. Launched a year ago together with international advocacy organisation Global Citizen and the technical support of the International Energy Agency at the G20 Summit in Rio, the campaign aims to mobilise investments in clean energy and access to electricity for the millions who still lack it in the wider African continent. Watch the pledging conference and discover the final tally live on EBS, as of 14:30 CET.
On Saturday, the President will take part in the opening session of the G20 Summit, followed by its first working session on inclusive and sustainable economic growth, the role of trade, financing for development and debt. The second working session of the Summit, in the afternoon, will focus on disaster risk reduction, climate change, just energy transitions and food systems. She will also discuss stronger EU-Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) cooperation in a meeting hosted by the Prime Minister of Canada, Mark Carney.
The following day, on Sunday, President von der Leyen will participate in the third working session on critical minerals, decent work, and artificial intelligence. The President will also hold several meetings with global leaders.
On Monday, President von der Leyen will be in Luanda, Angola, for the EU-AU Summit. First, she will deliver an address in the opening ceremony of the Europe-Africa Business Forum, which you can watch live on EBS at 9:30 CET. She will then take part in the official opening of the EU-AU Summit, together with Mahmoud Ali Youssouf, Chairperson of the AU Commission, President Costa, António Guterres, UN Secretary-General, and João Lourenço, President of Angola. Later, the President will take part in the first thematic session of the Summit, on peace, security, and governance, and multilateralism.
On Tuesday, the President will participate in the second thematic session, on prosperity, people, migration, and mobility. A press conference, broadcast on EBS, will close the day.
(For more information: Olof Gill – Tel.: +32 2 296 59 66)
Executive Vice-Presidents Mînzatu and Fitto in Romania to discuss the future of Cohesion policy
Tomorrow, Executive Vice-Presidents for Social Rights and Skills, Quality Jobs and Preparedness, Roxana Mînzatu, and for Cohesion and Reforms, Raffaele Fitto will be in Bucharest, Romania, to participate in a Ministerial Cohesion roundtable and a high-Level conference on the future of Cohesion policy. Discussions in both events will include the mid-term review of Cohesion policy and the essential role of Cohesion in the new Multiannual Financial Framework (MFF) as an enabler of long-term development, economic competitiveness and resilience throughout Europe.
Other participants in the discussions include Romania’s President, Nicu?or Dan, and Prime Minister, Ilie Bolojan, as well as Kata Ttto, President of the European Committee of the Regions, Siegfried Mure?an, Member of the European Parliament and rapporteur for the MFF, Drago? Pîslaru, Romanian Minister of investment and European projects, as well as Cohesion ministers of the participating EU Member States.
On the margins of these events, Executive Vice-President Mînzatu will meet with Croatia’s Minister of Regional Development and EU Funds, Nataša Mikuš Žigman. For his part, Executive Vice-President Fitto will hold meetings with President Dan and Prime Minister Bolojan, Bulgaria’s Deputy Prime Minister Tomislav Donchev, Croatia’s Minister of Regional Development and EU Funds, Nataša Mikuš Žigman, Malta’s Minister for European Funds Stefan Zrinzo Azzopardi, and World Bank Vice-President Antonella Bassani.
(For more information: Maciej Berestecki: +32 229-66483; Isabel Arriaga e Cunha +32 229-52117)
EU, Norway to strengthen energy cooperation at annual high-level dialogue and conference in Brussels
Tomorrow, 21 November, Commissioner for Energy and Housing, Dan Jørgensen, and the Norwegian Minister of Energy, Terje Aasland will co-chair the annual EU-Norway Energy Dialogue in Brussels and convene the 7th EU-Norway Energy Conference in Brussels.
As a significant supplier of oil, gas, and electricity, Norway is an important partner for the EU, and plays a pivotal role as the EU works to fully phase out Russian fossil fuels and enhance energy independence. The Energy Dialogue will focus on energy security, electricity market matters, progress on carbon capture and storage (CCS) and stocktaking on the incorporation of EU energy legislation by Norway.
The Energy Conference, which will see the participation of key actors from the energy sector, will address a variety of topics including reinforcing energy security, advancing the energy transition, ensuring affordable energy, and advancing technologies such as carbon capture and storage (CCS). The opening speeches by Commissioner Jørgensen and Minister Aasland will be broadcast on EBS+.
(For more information: Anna-Kaisa Itkonen – Tel.: +32 2 295 75 01; Cristiana Marchitelli – Tel: +32 2 298 94 07)
Commissioners Lahbib and McGrath in Italy for high-level meetings on key aspects of their portfolios such as media freedom and violence against women
Today and tomorrow, Michael McGrath, Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, is in Rome for meetings on key issues focusing on democracy, media freedom and supporting European businesses to establish and scale within the Single Market. Today, the Commissioner will meet Prime Minister of Italy Giorgia Meloni, where they will discuss topics such as the European Democracy Shield and 28th regime. He will also meet Tommaso Foti, Italian Minister for European Affairs, Cohesion and the NRRP, as well as Adolfo Urso, Minister for Enterprises and Made in Italy. Furthermore, the Commissioner will also hold bilateral discussions with Giacomo Lasorella, President of the National Regulatory Agency for Broadcasting, the Confederazione Generale dell’Industria Italiana, Italy’s Federation of Enterprises and Cardinal Pietro Parolin, Secretary of State of the Holy See. Today, Commissioner McGrath will also speak in the Italian Parliament as part of a joint Parliamentary committee hearing in the Camera dei Deputati and the Senato, focusing on fundamental rights, democracy and competitiveness. On Friday, Commissioner McGrath will deliver a keynote speech at LUISS Guido Carli University on Democratic Resilience in the Digital Information Era.
On Friday, Hadja Lahbib, Commissioner for Equality, Preparedness and Crisis Management, will also be in Rome for the High-level International Conference against Femicide, organised by the Italian government together with the Organization for the Security and Cooperation in Europe (OSCE). The event comes just four days before the International Day for the Elimination of Violence Against Women on 25th November, a key date to raise awareness on the topic and condemn all forms of violence against women.
Understood as the intentional killing of women and girls because of their gender, femicide is the most extreme form of violence against women. Eradicating it remains a major global urgency, with data from the United Nations estimating that in 2023, one women or girl was killed every 10 minutes. Commissioner Lahbib’s keynote speech at the opening session of the conference can be followed live online, and will highlight the urgent need for action against gender-based violence. In her speech, the Commissioner will outline how fighting this violence is not just another policy area, and that only by taking action can we build a Europe where every woman is safe, free, and empowered to reach her full potential. The conference will also include sessions on preventing and countering femicide and on protecting all victims, with a focus on human trafficking.
While in Rome, Commissioner Lahbib will also meet with Eugenia Roccella, the Italian Minister for Family, Natality, and Equal Opportunities, Josie Christodoulou, the Cypriot Commissioner for Gender Equality and Tatjana Macura, Serbian Minister for gender equality, prevention of domestic violence, and economic and political empowerment of women.
(For more information: Eva Hrncirova-Tel.: +32 2 298 84 33; Anna Gray – Tel.: +32 2 298 08 73)
Tampere and Dubrovnik selected as 2026 European Capital and Green Pioneer of Smart Tourism
Yesterday, the European Commission announced Tampere (Finland) and Dubrovnik (Croatia) as the winners of the 2026 competition of the 2026 European Capital and Green Pioneer of Smart Tourism. The competition celebrates tourism destinations leading in accessibility, sustainability, digitalisation and cultural heritage.
This year’s competitions saw an increase in participants from a wide range of countries. In total, 58 destinations from 22 countries competed for the European Capital and Green Pioneer of Smart Tourism titles. The 15 shortlisted destinations were invited to present their cases to the European Jury in Brussels, who selected the winners of both competitions.
Tampere stood out for its innovative practices, performing strongly across all four categories. The city blends accessible culture, heritage protection, and nature, while being committed to becoming carbon neutral by 2030. Surrounded by lakes and nature, Tampere encourages visitors and locals alike to experience its beautiful landscapes without barriers. The city has opened its first accessible beach at Lake Pyhäjärvi and created four barrier-free nature trails, with guides and route information available online at Outdoorstampere.fi. A shuttle bus service for national parks also guarantees easy access to nature.
Dubrovnik impressed the jury with its pioneering approach to sustainability and its potential to serve as a role model for other destinations. The city is ensuring sustainable tourism growth while protecting the historic centre with innovative measures, such as limiting the number of daily cruise visitors to 4,500 or two ships at a time and working closely with the local community in the ‘Respect the City’ project.
Apostolos Tzitzikostas, Commissioner for Sustainable Transport and Tourism, stated: ‘Tourism is one of Europe’s most dynamic sectors and a cornerstone of our cultural and economic identity. By investing in sustainability and digital innovation, we are ensuring that Europe remains not only the world’s leading destination, but also the most responsible. This year’s winners embody this ambition, setting a high standard for smarter, more sustainable and more inclusive tourism across our Union.’
More information is available online.
(For more information: Anna-Kaisa Itkonen – Tel.: +32 2 295 75 01; Anni Juusola – Tel.: +32 2 296 09 86)
Commission presents strategy to transform and digitalise justice systems across the EU
Today, the European Commission presented the Digital Justice package 2030, an initiative to modernise justice systems across the EU and ensure that justice professionals are equipped with tools fit for the digital age. This strategic roadmap aims to accelerate the digitalisation of justice systems across the EU, empowering citizens, businesses, and justice professionals through innovation and cross-border collaboration.
The Digital Justice package includes the DigitalJustice@2030 Strategy and the European Judicial Training Strategy 2025-2030. Together, these strategies will drive the digital transformation of justice systems, leveraging cutting-edge technologies like artificial intelligence (AI) to enhance efficiency, reduce costs, and improve access to justice for all.
The Digital Justice @2030 Strategy outlines 14 actionable steps to help Member States unlock the potential of AI and digital tools in justice systems, for example:
Promoting the exchange of best practices among Member States of digital tools used by legal practitioners across the EU, hosted on the European e-Justice Portal;
Developing a toolbox to allow Member States to share IT and AI tools used in justice to accelerate digitalisation and help generate savings;
Boosting the European Legal Data Space to further facilitate online access to legislation and case-law, using the access to more judicial data to develop AI tools adapted to the needs of justice systems;
The Commission will conduct a study to find a European solution to technical issues arising from judicial systems cooperating with each other, namely, to help overcome interoperability challenges in cross-border videoconferencing.
By addressing technical barriers and promoting harmonisation, the strategy aims to create a justice system that is agile, inclusive, and fit for the digital age.
Furthermore, the European Judicial Training Strategy 2025-2030 will help ensure that all justice professionals (from judges and prosecutors to court staff and other legal practitioners) are properly equipped to put digital justice into practice. The Commission emphasises the need for skilled, tech-savvy justice professionals to ensure the success of transforming and digitalising justice systems across the EU.
The Judicial Training Strategy includes practical training, for example, on digital case management systems, digital cross-border cooperation tools and secure communication technologies; and further awareness raising activities on the impacts of digital and AI-tools in justice. Judges and other justice professionals also need to have appropriate training to apply EU digital law, such as the Digital Services Act. National and EU-funded training should align further in order to create synergies and increase long-term impact of judicial training and available budgets.
Background
Digitalised justice systems are essential for an attractive business and investment environment. They improve transparency, reduce delays, and make procedures more efficient and accessible – especially in cross-border cases. They are also more resilient in times of crisis – as evidenced during the Covid-19 pandemic – lead to cost savings, and allowing for swift, secure and transparent access to justice for all.
By promoting the use of digital tools and AI, the Digital Justice Package 2030 will help make justice systems across the EU more efficient, resilient and accessible to citizens and businesses, to support Europe’s competitiveness and economic growth.
It contributes to the EU’s broader Digital Decade Policy Programme, which aims at making all key public services available online by 2030. It also supports the Union of Skills initiative to ensure that everyone in Europe, including justice professionals, has the digital and AI skills needed to thrive in a modern and digital society.
The adoption of the Digitalisation Regulation in 2023 was an important step in creating digital cross-border exchanges in 24 judicial cooperation procedures in civil, commercial and criminal matters.
Today’s package further contributes to the goal of strengthening judicial systems in the EU through digitalisation.
For more information
Digitalisation Regulation 2023
Digital Decade Policy Programme 2030
European e-Justice Portal
A Europe fit for the digital age
Digital Justice @2030 Strategy
Digitalisation of Justice
Communication on Digitalisation of Justice
Training of Justice Professionals
Judicial Training Strategy
The Judicial Training Dashboard
Quote(s)
Digitalisation and artificial intelligence are transforming our societies, including the justice system. With the Digital Justice Package 2030, we are modernising Europe’s justice systems, contributing to the competitiveness of our economy while ensuring that technology serves people, keeping justice open, accessible, and based in our values.
Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy
With this Package, we are helping Member States take a confident step into the digital era – ensuring that our justice systems become faster, more accessible, and more efficient. This is not only an investment in justice, but also in Europe’s competitiveness. The upcoming Judicial Training Strategy will equip judges, prosecutors, and legal professionals with the digital and AI skills needed to use technology effectively. By embracing innovation, we are building a justice system that is prepared for the challenges of tomorrow – fair, modern, and firmly anchored in our democratic values.
Michael McGrath, Commissioner for
Commission proposes to boost supplementary pensions to help ensure adequate retirement income
The European Commission has today adopted a package of measures to help citizens secure adequate income in retirement by improving access to better and more effective supplementary pensions. The proposed actions aim to complement – not replace – public pensions, which are the foundation of pension systems in all Member States.
Today’s package forms part of the Commission’s Savings and Investments Union (SIU) Strategy which seeks to create more opportunities for households to build their wealth through capital markets, while boosting EU economic growth and competitiveness.
In light of demographic shifts and labour market dynamics, which require pension systems to adapt, supplementary pensions – both occupational and personal pension schemes – can help citizens achieve more diversified retirement income, enhancing financial security and stability when retiring. They can complement the benefits of public pensions which in many cases will not be sufficient to maintain adequate living standards, especially among vulnerable people and women, where the gender pension gap between men and women currently stands at 24.5%.
Stronger and more efficient supplementary pension schemes can also contribute to Europe’s economic growth and competitiveness by mobilising long-term savings for productive investments.
The aim of the proposed measures is to strengthen both the demand for and the supply of supplementary pensions. The initiatives fully respect Member States’ competences to organise and design their national pension systems, as well as the autonomy of the social partners where they are responsible for establishing and managing pension schemes.
This package builds upon, and supplements, the Commission’s other SIU initiatives announced to date, including on financial literacy and the Recommendation on Savings and Investment Accounts, which collectively aim to enhance EU citizens’ financial well-being, in particular by broadening options to get better returns on their savings.
Proposed measures
Recommendation on pension tracking systems, pension dashboards, and auto-enrolment into supplementary pension schemes
The Commission recommends that Member States:
Implement, in line with national circumstances and while fully respecting the role and autonomy of social partners and collective bargaining prerogatives, auto-enrolment i.e. the automatic inclusion of workers in supplementary pensions, with the full freedom for individuals to opt out. This will be guided by existing good practices in the EU and lessons learned from other countries. This is a way to increase participation in supplementary pension schemes and unlock greater scale of supplementary pensions markets;
Further develop comprehensive pension tracking systems to provide citizens with a clear overview of their pension rights and projected benefits across all pensions schemes. Such tracking systems will help address the low participation in supplementary pensions, often due to citizens’ limited awareness about their future pension. They should be compatible with the European Tracking Service, supporting cross-border mobility and;
Develop national pension dashboards, for Member States’ policymakers to have a better view of the coverage, sustainability and adequacy of their multi-pillar pension system. Those national dashboards would ultimately feed into an EU-level pension dashboard.
Legislative proposal to amend the Directive on Institutions for Occupational Retirement Provision (IORP) II
The IORP II Directive set common EU standards to ensure sound management and supervision of IORPs, while respecting the role of social partners. However, many schemes remain too small to diversify their investments and deliver optimal outcomes for savers.
To unlock the potential of occupational pensions, the Commission proposes to strengthen and modernise the framework to better support efficiency, scale and trust in supplementary pensions.
The review enhances the protection of savers and removes barriers to market-driven consolidation and other forms of fostering economies of scale. These measures will help IORPs to operate more efficiently, reduce costs, diversify their investments portfolios including in equity, to deliver stronger returns on citizens’ savings. This also contributes to increased financing opportunities for European companies.
Legislative proposal to amend the Pan-European Personal Pension Product (PEPP) Regulation
The review of the PEPP Regulation seeks to make the Pan-European Personal Pension Product (PEPP) a more attractive, accessible and cost-effective option for savers. It will remove existing requirements and design features that have hampered the take-up of the PEPP, while at the same time continuing to ensure a high level of consumer protection.
The review introduces an affordable and easily accessible ‘Basic PEPP’, invested in simple financial assets and offered to the public without advice. Savers will also have access to ‘tailored’ PEPPs that may include guarantees and more complex assets, requiring advice to ensure their consumer understanding. As a result, the PEPP will be adaptable to different investor preferences and suitable for various types of providers, including asset managers and insurers. The PEPP will also be open to workplace use and could serve as an auto-enrolment vehicle, where this is allowed under national law and fully respects the prerogatives and autonomy of social partners.
Those changes will ease barriers to provision and distribution, broaden choice for savers, supported by favourable and consistent tax treatment, as Member States will be required to offer comparable tax treatment between national personal pension products.
Clarifying the prudent person principle:
The prudent person principle governs how IORPs and PEPP providers should invest and manage their asset portfolios. However, this principle has been interpreted and implemented very differently across Member States, which has often constrained pension schemes in their ability to diversify investments, in particular in equity. In line with the SIU Strategy, the Commission Communication adopted today clarifies the principle, with the aim to increase investment into equity – both private and listed -to help citizens earn higher long-term returns on their savings and free up new sources of financing for the EU economy.
Next steps
The proposals to amend the IORP II Directive and PEPP Regulation will now have to be negotiated and agreed by the European Parliament and the Council.
The Commission will monitor the implementation of the Recommendation at national level through several mechanisms, including the European Semester. It will promote the exchange of experiences and best practices between Member States.
Background
These measures are in line with recent high-level political statements and reports also underscored the crucial need to mobilise private capital for long-term investment. These include the March 2024 statement of the Eurogroup in inclusive format, the European Council conclusions of both April 2024 and March 2025, the European Parliament’s September 2025 competitiveness report, and the Letta and Draghi reports. Given the long-term nature of pensions’ liabilities, the supplementary pension sector can be a key potential supplier of long-term capital for investment in the EU economy. In the Competitiveness Compass and Savings and Investments Union (SIU) Strategy the Commission committed to put forward measures to unlock this potential.
For more information
Questions and answers
Measures on the supplementary pensions
Quote(s)
Our goal is clear: everyone should be able to maintain good standard of living in retirement. This is why we have adopted a comprehensive approach to strengthen supplementary pensions to complement, not replace, public pensions. Our measures will give Europeans better tools to plan for old age with confidence, while also unlocking new sources of funding to boost the EU economy. I urge all stakeholders, including Member States, to join our efforts, as effective implementation at national level will be critical to achieve those shared objectives.
Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investments Union
Commission simplifies transparency rules for sustainable financial products
The European Commission has today proposed a set of amendments to the Sustainable Finance Disclosure Regulation (SFDR), the EU’s transparency framework for financial products integrating environmental or social aims. The changes are designed to address current shortcomings, making the rules simpler, more efficient, and better aligned with market realities. The revised rules will be more retail-friendly and usable for companies.
A comprehensive review of the SFDR by the Commission has shown that the current framework results in disclosures that are too long and complex, making it difficult for investors to understand and compare the environmental or social characteristics of financial products. Moreover, the SFDR has effectively been used as a de facto labelling system, causing confusion – particularly for retail investors – and increasing the risk of greenwashing and mis-selling. As a result, the regulation has not fully met its objectives to help the EU financial sector allocate capital for Europe’s sustainable priorities.
The amended rules proposed today will result in simpler and more usable information for investors, enabling them to make better informed choices. Providers of financial products will see a reduction in disclosure requirements, enabling them to cut costs. Together, today’s changes will bolster the EU’s leading role in sustainable finance and the competitiveness of its financial sector. Moreover, they will facilitate an increased participation of retail investors in EU capital markets, in line with the objectives of the Savings and Investments Union (SIU) and help boost the flow of funds towards sustainable objectives.
Key elements of the proposal
Simplified disclosures
The Commission proposes to delete entity-level disclosure requirements for Financial Market Participants (FMPs) regarding principal adverse impacts indicators. The aim is to streamline corporate disclosures in the sustainable finance framework, addressing current overlaps between the Corporate Sustainability Reporting Directive (CSRD) and the SFDR. This aligns with the Commission’s Omnibus I simplification package from February 2025, and significantly reduces the implementation costs associated with the SFDR. In the future, only the largest FMPs subject to the updated thresholds under the CSRD will need to disclose their impacts on the environment and society. Removing entity-level disclosures from the SFDR significantly cuts reporting requirements and costs associated with collecting data across a wide range of environmental, social and governance (ESG) topics and removes duplications.
The Commission is also proposing a significant reduction in product-level disclosures, limiting them to data that is available, comparable, and meaningful. Focused on the key criteria underpinning the proposed product categories (see point b. below), this will give providers more clarity and certainty on how to design and present the sustainability characteristics or objectives of their products, making them more relevant and comparable for investors. The revised disclosures will also be more retail friendly, helping retail investors to quickly and easily understand the sustainability features of financial products.
A clear categorisation system
Based on a wide consensus in stakeholder feedback, the Commission is proposing a simple categorisation system for financial products making ESG claims. It will comprise three categories with clear criteria, building on existing market practices that have been informed by the latest regulatory guidance. The categories will simplify the investment journey of retail investors and help them make informed investment decisions. Broadly, the categories will be:
‘Sustainable category’: products contributing to sustainability goals (e.g. climate, environment or social goals), such as investments in companies or projects that are already meeting high sustainability standards;
‘Transition category’: products channeling investments towards companies and/or projects that are not yet sustainable, but that are on a credible transition path, or investments that contribute toward improvements in e.g. climate, environment or social areas;
‘ESG basics category’: other products that integrate a variety of ESG investment approaches but do not meet the criteria of the above-mentioned sustainable or transition investment categories (e.g. focusing on best-in-class performers on a given ESG metric, pursuing financial returns while excluding the worst ESG performers).
Categorised products would need to ensure that a high portion of investments (70% of the portfolio) supports the chosen sustainability strategy and exclude from all their portfolio investments in harmful industries and activities, for example companies in violation of human rights standards as well as those involved in tobacco, prohibited weapons and fossil fuels above certain limits. ESG claims in names and in marketing documentation will be reserved for categorised products – this is a key step to fight greenwashing and boost trust in sustainable investments.
Background and next steps
The SFDR was adopted in November 2019 and has been in application since March 2021. The Regulation is complemented by a Commission delegated regulation adopted in April 2022 that added technical details and started applying in January 2023.
The current proposal revises the disclosure framework and defines the essential features of the proposed ESG product categories and supervisory framework. It also empowers the Commission to develop a limited set of implementing rules to supplement these key elements with more technical requirements.
The Commission proposal will now be submitted to Parliament and Council for their deliberation.