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More than two years after it published a Discussion Paper on the UK’s sustainability disclosure standards and investment labels (summarised here), the FCA has now published a Policy Statement setting out its final rules. Following the high-level structure set out in last year’s Consultation Paper (summarised here), the regime comprises investment labels, consumer-facing disclosures, detailed product-level and entity-level disclosures, naming and marketing rules … Read more
The FCA published its long-awaited Policy Statement on SDR (PS23/16 “Sustainability Disclosure Requirements (SDR) and investment labels“). This is over a year following the consultation in October 2022 (see our blog here) The SDR Policy Statement is accompanied by a Guidance Consultation, GC23/2 “Guidance on the Anti-Greenwashing rule” (the “Guidance“), which follows feedback from the industry … Read more
Launch of stakeholder request mechanism The European Commission and the Platform on Sustainable Finance have established a stakeholder request mechanism to capture and address suggestions from stakeholders regarding EU Taxonomy activities, whether in relation to new activities that could be added or potential amendments to the technical screening criteria (“TSC“) of existing activities. The mechanism … Read more
Are you struggling to keep track of the ever changing landscape of EU Sustainable Finance? As shown by a number of our previous posts, there is a lot on the European Union’s sustainability finance agenda which financial industry participants need to keep in mind, including: Read more
The European Commission has launched two new consultations which seek feedback on the main concerns of market participants under the current SFDR regime and ask for input on potential amendments to the SFDR, including a new product labelling framework. Read more
The Green Technical Advisory Group (GTAG), the independent expert group set up in June 2021 to advise the UK government on the design and implementation of the UK Green Taxonomy, has published two recent reports, one on operational considerations for taxonomy reporting and the other on the treatment of green financial products under an evolving … Read more
Welcome to our newly launched ESG Newsletter. There’s a lot happening in the environmental, social and governance (ESG) space, and we don’t want you to get lost in the quagmire. In our newsletter, we share our latest ESG insights and identify must-know developments from the UK, EMEA and around the world. Read on for our … Read more
With sustainability at the pinnacle of regulatory focus around the world, how can companies caught by the myriad of disclosure regimes maintain confidence when it comes to compliance? Particularly where there is variation in the standards themselves, is the end goal for corporates the highest common denominator? Maybe so. Corporates everywhere are under increased scrutiny … Read more
Q&A on the EU’s New Sustainable Finance Package 1. What’s the latest sustainable finance package from the European Commission? On 13 June 2023, the European Commission (Commission) released a new sustainable finance package. Broadly, these comprise: EU Taxonomy: the approved EU Taxonomy Environmental Delegated Act (Environmental Delegated Act); amendments to the EU Taxonomy Climate … Read more