Tag:SFDR

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Europe: Agreement on EU ESG Ratings Regulation
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EUROPE: New Screening Criteria for the EU Taxonomy’s Environmental Objectives
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EU Regulators launch review of SFDR compliance in the investment fund sector
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Europe: Central Bank of Ireland Confirms Fast Track approval in Relation to New SFDR RTS

Europe: Agreement on EU ESG Ratings Regulation

By: Hilger von Livonius and Philipp Riedl

On 5 February 2024, the EU Council and the EU Parliament agreed on a provisional text for the ESG Ratings Regulation (the Regulation).

Under the Regulation, in-scope EU providers of ESG ratings will require a licence from, and be supervised by, European Securities and Markets Authority (ESMA).

In-scope ESG ratings will provide an opinion on a company’s or a financial instrument’s sustainability profile, by assessing its exposure to sustainability risk and its impact on society and the environment.

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EUROPE: New Screening Criteria for the EU Taxonomy’s Environmental Objectives

By: Áine Ní Riain and Gayle Bowen

Following their adoption and publication in draft form by the European Commission last June, two new EU Taxonomy delegated acts were published in the Official Journal on 21 November, and will apply from January 2024. They confirm new and amended technical screening criteria (TSCs) in relation to the environmental objectives in the Taxonomy Regulation.  This is a significant build-out in the application of the Taxonomy Regulation given that for an economic activity to be taxonomy-aligned, it must:

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EU Regulators launch review of SFDR compliance in the investment fund sector

By: Shane Geraghty and Áine Ní Riain

On 6 July, the European Securities and Markets Authority (ESMA) announced it had launched a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the integration of sustainability risks and on sustainability-related disclosures in the investment fund sector.

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Europe: Central Bank of Ireland Confirms Fast Track approval in Relation to New SFDR RTS

By Áine Ní Riain and Gayle Bowen

On the 17th February 2023, a new Delegated Regulation was published which amends and corrects the existing Sustainable Finance Disclosure Regulation (SFDR) regulatory technical standards with the main changes introducing disclosure requirements for Article 8 and Article 9 funds in respect of fossil gas and nuclear energy related activities to ensure alignment with the EU Taxonomy.  The Delegated Regulation does not provide for a transition period and entered into force on 20 February.

The Central Bank of Ireland in order to accommodate the Delegated Regulation published their Process Clarification which confirms that the Central Bank will facilitate a fast-track filing process for the update of pre-contractual disclosure documents pursuant to the Delegated Regulation.  Compliance with the Delegated Regulation is now a matter of priority for financial market participants and funds sponsors.

For more information on this regulatory update we suggest a read of our full Article or contact one of our authors.

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