Amendments to the SFDR RTS have entered into force
Published 20 February 2023
Category: Impact and ESG
On 20 February 2023, the Commission Delegated Regulation (EU) 2023/363 of 31 October 2022 amending and correcting the RTS in the Commission Delegated Regulation (EU) 2022/1288 entered into force. The adoption of the amendments was touched upon in a previous update.
The amendments and corrections ensure alignment with the Commission Delegated Regulation (EU) 2022/1214. Adjustments have been made to few articles specifying pre-contractual and periodic disclosures about the exposure of financial products to investments in fossil gas and nuclear energy activities. Further, Annex II to V have been replaced with updated templates which include information on fossil gas and nuclear energy.
Other updates
Proposal to amend the PRIIP Level 1 Regulation
The European Commission has earlier this year published a number of targeted proposals to amend the PRIIP Level 1 Regulation, implementing more modern rules on how a PRIIP Key Information Document (KID) is provided to investors. The proposed changes aim to change the content of the (KID) which must be provided to retail investors before investing.
KID / PRIIPSStatus on the CSDD Directive
On 13 September 2023, the Danish Corporate Governance Board published their annual account for 2022-2023. The account contains a status on the CSDD Directive which is still negotiated in the EU.
SustainabilityMemo from the Danish Financial Supervisory Authority on periodic reporting
On 30 August 2023, the Danish Financial Supervisory Authority (“DFSA”) published a memo describing the requirements in SFDR art. 11 for periodic reporting.
ComplianceDisclosure RequirementsSustainabilityNew reports on the understanding of greenwashing
The progress reports are a result of a push from stakeholders requesting greater market integrity, investor protection and trusted environments for sustainable investments as sustainability has become an important competitive factor.
ESMASustainabilityEuropean Sustainability Reporting Standards have been adopted
On 31 July 2023 the European Commission adopted European Sustainability Reporting Standards (ESRS) which are mandatory standards for companies under CSRD to use when reporting on sustainability information.
SustainabilityRevision of the Investment Screening Act has entered into force
On 1 July 2023, a revision of the Investment Screening Act (the “Act”) entered into force. The revision revolves around two areas: public contracts and administrative procedures.
Danish RegulationGovernance