The European Union (
ESG) measures.
Two areas of development in particular are likely to have widespread repercussions for businesses: newly implemented obligations for ESG disclosures and likely forthcoming mandatory human rights, environmental and governance due diligence. These measures involve both new obligations of disclosure as well as, potentially, substantive obligations to address ESG issues connected to companies’ businesses. Their implementation is likely to have significant effects for both companies domiciled in the EU as well as companies operating within the EU. Importantly, as well as compliance concerns, businesses will need to consider the attendant legal risks of publicly sharing human rights and environmental risks in their business operations and supply chain more widely.
European ESG Disclosure Regime in a Post-Brexit World
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Navigating the European ESG Disclosure Regime in a Post-Brexit World | K&L Gates LLP
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EIOPA - European Insurance and Occupational[ ] (via Public) / ESAs consult on Taxonomy–related product disclosures
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ESAs Consult On TaxonomyâRelated Product Disclosures Date
17/03/2021
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have today issued a Consultation Paper seeking input on draft Regulatory Technical Standards (RTS) regarding disclosures of financial products investing in economic activities that contribute to an environmental investment objective. These economic activities are defined by the EU Regulation on the establishment of a framework to facilitate sustainable investment (Taxonomy Regulation).
The proposed draft RTS aim to:
facilitate disclosures to end investors regarding the investments of financial products in environmentally sustainable activities.; and
create a single rulebook for sustainability disclosures under the Regulation on sustainability-related disclosures in the financial services sector (SFDR) and the Taxonomy Regulation. This will be done by amending the draft RTS under the SFDR, to minimise overlapping or duplica