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While 10 March 2021 probably came and went without much impression on the public consciousness, it was a key date for EU asset managers as many of the operative provisions of Disclosure Regulation (EU) 2019/2088 (otherwise known as the sustainable finance disclosure regulation or “SFDR”) started to apply. Some commentators herald this to be a “game changer” and a “new era” in the prevention of greenwashing; others are more circumspect but nonetheless agree that the new rules mark a significant milestone in EU’s attempts to police the growing area of sustainable investing as it seeks to achieve its stated aim of re-orienting capital flows into a more sustainable economy.
Many firms have, in compliance with the SFDR, already published their responsible investment policies setting how they have integrated sustainability and ESG risks across their investment chain in advance of the 10 March deadline. However, the harder work is just beginning as firms start to grapple with preparing the more detailed Level 2 disclosures in respect of reference periods commencing in 2022 as well as myriad other pre-contractual and periodic reporting disclosures at product level.
For the full publication, please download the briefing.
Our previous briefing on the SFDR can be found here.