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New EPSV Decree Basque Government: Safer, more responsible and sustainable investments

wilmer ayala

March 27, 2023 | 2:08 p.m.

The Basque Government is preparing to process a new decree that will update the regulations of the Voluntary Social Welfare Entities (EPSV) before the summer, with the aim of approving it in the last four-month period of 2023. This decree seeks to include new areas of profitable and safe investment, focusing on sustainability and responsible investment.

Hernando Lacalle, Deputy Minister of Finance and Budgets, announced the forthcoming processing of the decree in the presentation of the annual balance of EPSV in Bilbao, along with those responsible for the Euskadi EPSV Federation. The goal is to start processing before the summer to have it approved in the last four-month period of 2023.

Updating of Investment-Grade Assets

One of the main updates that the new decree will include will be the review of assets suitable for EPSV investments, adapting to current market needs in complex and difficult moments to find profitable and safe investments. Lacalle pointed out that, although the main objective of the EPSV is to obtain a return to complement the future pensions of the partners, it is necessary to be conservative in the delimitation of the assets. However, adapting to the new investment possibilities is crucial, since in the eight years since the previous decree, the financial world has advanced at a rapid pace.

Socially Responsible Investments

The new decree will also address the growing demand to address socially responsible investments. According to the Deputy Minister of Finance and Budgets, sustainability and responsible investment are becoming much more important than in the past. This trend will be reflected in the updating of the EPSV regulations.

Commissions and Collection Methods

The decree will also deal with aspects such as commissions for administration expenses and the methods of collection, always in consensus with the agents involved in the sector.

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