ESG: Green, greener, greenest.
When the EU’s landmark Sustainable Finance Disclosure Regulation (SFDR) came into force on March 10, it was widely welcomed and hailed as a ‘game-changer’ in the fight against greenwashing.
A core component of the bloc’s green agenda, the regime is designed to promote greater transparency in finance – but questions remain regarding its implementation.
SFDR calls on asset managers to classify their funds according to three primary categories – article 6, which makes no claims of sustainability, or articles 8 and 9, which both claim environmental, social and governance (ESG) credentials and require firms to provide data to support the claims.
Taxonomy-related product disclosures Public event on the European Supervisory Authorities consultation
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Greenwashing: Transparenz von nachhaltigen Anlagen mit Defiziten
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News
07 Apr 2021
The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – published today its 2020 Annual Report, providing a detailed account of all the joint work completed over the past year. Under the EBA Chairmanship, the Joint Committee played a pivotal role in 2020 to ensure close cooperation among the Authorities in the context of the COVID-19 pandemic. As part of the ESAs continued efforts in overseeing market developments and cross-sectoral risks, the Joint Committee also prepared the first cross-sectoral COVID-19 risk assessment.
In the past year, the Joint Committee also adapted to the amended scope of issues under its remit, as laid down in the revised ESAs’ Founding Regulation. Consumer protection remained a key priority with the finalisation of the Report including advice to the Commission under the PRIIPs Regulation. In addition, the Joint Committee delivered a substantial contribution to the development of the sustainab