Alternative Investment Management Association (AIMA)

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Organisation Score
London, United Kingdom
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The Alternative Investment Management Association (AIMA) does not appear to have supported regulatory intervention on sustainable finance.

In EU consultations in 2018-19, AIMA has supported the view that ESG integration should be market-led, has argued against prescriptive regulation and has also suggested that it does consider short-termism to be a significant issue. AIMA has reiterated this position on ESG regulation on its website, accessed April 2021.

In 2018, AIMA argued that the EU taxonomy should be voluntary and should only be applied to products marketed as sustainable. In feedback to the Commission in 2020, AIMA opposed the expansion of the taxonomy to cover environmentally harmful activities. AIMA commented on the EU benchmarks regulation in 2019 to argue against a prescriptive approach and opposed any consideration of social and governance factors.

AIMA has been particularly active in the area of updating investors' duties to integrate sustainability issues, suggesting in 2018 that ESG integration should be at the discretion of the client rather than mandated by policy. Similarly, in 2018, AIMA commented on the European Commission's consultation on MiFID II to argue for weaker wording of the policy and on sustainability disclosures to argue it should only apply to the 'green niche'. In response to the ESA’s SFDR consultation on investor ESG disclosure in 2020, AIMA argued for a less prescriptive approach, including a reduced number of mandatory indicators.

In 2020, AIMA did not support the US Department of Labor's rollback which limited fiduciaries' ESG investing, however, it supported certain aspects of the DOL's rollback on voting on ESG issues.

In 2020, AIMA appeared to support the review of the Non-Financial Reporting Directive (NFRD) including the expansion of the scope to cover more companies.

AIMA lacks transparency on its positions, many of which are accessible to members only, and does not publically disclose its membership.

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