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EU Regulators Finalize Enviro Disclosure Reporting Rules
Law360, London (February 5, 2021, 1:04 PM GMT) European regulators have set out final rules on how the bloc s financial companies must make environmental, social and governance disclosures to investors in a bid to clamp down on misleading statements about the sustainable benefits of products.
The European supervisory authorities published a final report Thursday on how banks, asset managers and insurers must measure and disclose their climate and social considerations to investors in a standardized way. Firms will be required to do this under the Sustainable Finance Disclosure Regulation, or SFDR, which is due to come into force in March.
By Jon Hay
05 Feb 2021
European financial regulators have bowed to pressure from investment firms and their trade bodies, and look set to weaken the requirements of the Sustainable Finance Disclosure Regulation, a central part of the EU s Sustainable Finance Action Plan.
Of the 32 environmental and social impacts investors had been required to report under the working draft of the SFDR, 18 have been made optional, leaving only 14 mandatory.The decision came on Thursday when the European supervisory authorities (EBA, Esma and Eiopa) gave their advice to the European
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