EU Watchdogs Issue SFDR Guidance

The European Supervisory Authorities (ESAs) have published a Q&A document for disclosure requirements under the Sustainable Finance Disclosure Regulation (SFDR) that will come into effect from 1 January, 2023. The European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority (ESMA) have provided more clarity around taxonomy-alignment disclosure requirements, required information on financial products, and specific requirements for financial advisers and execution-only financial market participants. The Q&A also clarifies the calculation of the current value of all investments in the principal adverse impact indicators (PAIs) and information aligned with the taxonomy. The new guidance follows an open letter sent to the European Commission this week, which asked for a six-month extension on a mandate to review the PAIs and financial product disclosures outlined under SFDR.

 

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