The funds industry continues to wait for regulators and legislators to review and fix the multiple flaws in the existing SFDR regime. In the meantime, in July 2023, ESMA launched a “common supervisory action” ("CSA”)...more
Yesterday, ESMA published a risk analysis report outlining the results of its disclosure study on ESG names and claims in the EU funds industry. ESMA utilised natural language processing ("NLP") techniques to analyse the...more
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR. ...more
The European Commission has finalised its proposed ESG-related changes to MiFID II. These are intended to fit together with SFDR, and are part of a suite of ESG related changes being made via amends to AIFMD, the UCITS...more
Challenges create opportunities and the environmental and social challenges we currently face are no exception. In this paper we consider the opportunities provided by sustainable finance, and more specifically impact...more
Background - Investors and asset managers continue to emphasize environmental, social, and governance (“ESG”) factors as drivers of financial value in their investment products....more
As mentioned in our latest briefing note, the UK Financial Conduct Authority (FCA) published its final rules and guidance (the “Rules”) setting out the requirements under a new climate-related disclosure regime for certain...more
"It can‘t go on like this!" This statement is not only made by the young people who pass by the windows of our office every Friday morning. In fact, this statement was already made binding by the Paris Climate Change...more
1. New EU and UK disclosure requirements - The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European...more
A new European regime on sustainability-related disclosures in the financial sector will come into force from March 2021, after first being announced in 2018 during the European Commission’s Action Plan on Sustainable...more
1. SPEED READ - As a further development in the roll out of its green agenda, the EU has finalised a new disclosure regulation. This will require certain firms, including asset and fund managers, to comply with new rules...more