Draft guidelines on Enforcement of Sustainability Information out for consultation
Published 21 February 2024
Category: Impact and ESG
The European Securities and Markets Authority (“ESMA”) has sent draft Guidelines on Enforcement of Sustainability Information (“Guidelines”) out for consultation.
The Guidelines have been prepared based on a mandate from the Corporate Sustainability Reporting Directive (“CSRD”) to issue guidelines on national competent authorities’ supervision of sustainability reporting. The purpose with the Guidelines is to ensure that supervision is carried out in a uniform manner. Further, it is expected that the Guidelines will ensure a consistent approach to supervision of both financial and sustainability information given by listed companies. ESMA’s consultation paper can be accessed here.
Next steps: The consultation period lapse on 15 March 2024 and is of interest to both investors, listed companies covered by the CSRD and the Taxonomy Regulation art. 8, auditors as well as others using sustainability information. ESMA expects to publish a final set of Guidelines around Q3 in 2024.
Tags: ESMASustainability
Also tagged ‘ESMA’
National versions of guidelines on funds’ names now published
On 21 August 2024, the European Securities and Markets Authority (“ESMA”) published their guidelines on funds’ names (the “Guidelines”) in versions translated into all the official EU-languages.
ESMASustainabilityMeasures to support corporate sustainability reporting
In July, the European Securities and Markets Authority (“ESMA”) published measures to support corporate sustainability reporting.
CSRDESMAESRSSustainabilityESMA opinion on sustainable investments: Facilitating the investor journey
On 24 July 2024, the European Securities and Markets Authority (“ESMA”) published an opinion: “Sustainable investments: Facilitating the investor journey – a holistic vision for the long term” setting out ESMA’s long-term vision on the functioning of the Sustainable Finance Framework.
ESMASustainabilityFinal Report from ESMA with guidelines on funds’ names
The European Securities and Markets Authority has published a final report containing guidelines on funds’ names using ESG or sustainability-related terms.
ESMASustainabilityFinal Report with amendments for RTS
The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the Commission Delegated Regulation (EU) 2022/1288 and the Regulatory Technical Standards (RTS) in December 2023.
Disclosure RequirementsESMARegulatory Technical StandardsSustainabilityChanges to the SFDR RTS proposed by ESA Final Report
The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the SFDR Delegated Regulation (Regulation (EU) 2022/1288) and the SFDR Regulatory Technical Standards (RTS) in December 2023.
Disclosure RequirementsESMARegulatory Technical StandardsSustainabilityELTIF 2.0 in force
Today, 10 January 2024, the transition period for the regulation of 15 March 2023 amending the Regulation for Long-Term Investment Funds (ELTIFs), also known as ELTIF 2.0, has ended. Thus, ELTIF 2.0 has now completely entered into force.
ESMARegulatory Technical StandardsRetail InvestorsNew 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.
ESMASustainabilityConsultation on the ESAs review of SFDR
The European Supervisory Authorities (EBA, EIOPA and ESMA) have earlier this month published a consultation paper in which they propose amendments to the Commission Delegated Regulation.
Disclosure RequirementsESMARegulatory Technical StandardsSustainabilityESMA consultation on the use of ESG or sustainability-related terms in fund names
On 20 February 2023, ESMA closed their consultation on Guidelines on funds' names using ESG or sustainability-related terms launched back in November 2022.
ComplianceESMASustainabilityOpinions issued on the draft European Sustainability Reporting Standards
The European Financial Reporting Advisory Group (EFRAG) submitted a draft set of European Sustainability Reporting Standards (ESRS Set 1) to the EU Commission in November 2022.
ComplianceCSRDESMAESRSSustainabilityESMA Provides Guidelines for Funds’ Use of ESG Related Terms
On 31 May 2022, the European Securities and Markets Authority (ESMA) published a supervisory briefing which provides guidance on sustainability risks and disclosures in investment management.
Disclosure RequirementsESMASustainabilityESMA has Issued Guidelines on Marketing Communication
The guidelines apply to all marketing communication addressed to investors or potential investors for AIFs, including amongst others when they are set up as EuVECAs.
Cross-BorderESMAMarketingPre-MarketingVenture CapitalESMA Publishes Letter to the European Commission on the AIFMD Review
On 19 August 2020, ESMA published a letter to the Commission, outlining areas it should consider during the forthcoming review of the AIFMD.
AIFMDAIFMD reviewESMAESA issues Joint Supervisory Statement on the Application of Scope of the PRIIPs Regulation to Bonds
The statement seeks to mitigate the risk of divergent application, by national competent authorities, for determining the type of bonds for which it is necessary to draw up a Key Information Document (KID).
Disclosure RequirementsESMAKID / PRIIPSESA issues Consultation Paper on Amendments to the Existing PRIIPS Regulation
On 16 October 2019 ESA has issued a consultation paper on amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
Disclosure RequirementsESMAKID / PRIIPSESMA Submits Report on Sustainability Risks and Factors in the AIFMD and UCITS Directive
On 30 April 2019, the European Securities and Markets Authority (ESMA) published its final report on integrating sustainability risks and factors relating to environmental, social and good governance considerations in the AIFMD and UCITS Directive.
AIFMDESMAGovernanceRegulatory Technical StandardsRisk ManagementSustainabilityESMA Consults on Regulatory Technical Standards Under the ELTIF Regulation
On 28 March 2019, the European Securities and Markets Authority (ESMA) issued a Consultation Paper on draft Regulatory Technical Standards (RTS) under article 25 of the ELTIF Regulation.
ESMAKID / PRIIPSManagement RemunerationRegulatory Technical StandardsOther updates
ESMA announces European Common Enforcement Priorities for corporate reporting
The European Securities and Markets Authority (“ESMA”) has issued its annual European Common Enforcement Priorities Statement for corporate reporting.
CSRDDisclosure RequirementsSustainabilityNon-financial reporting under the EU taxonomy – Theme inspection by the Danish FSA
The Danish FSA has completed a theme inspection regarding financial market participants and companies reporting under the EU taxonomy.
Disclosure RequirementsSustainabilityNew ESG template for SMEs
In September 2024, the Danish Business Authority published a new ESG template targeted at SMEs.
CSRDSustainabilityGuidelines on consolidated sustainability reporting expanded
The Danish Business Authority has expanded their Guidelines on consolidated sustainability reporting with an updated version 2.
CSRDSustainabilityThe NIS2 Directive now applies to designated IT suppliers to financial companies as appointed by the Danish FSA
As of today, the NIS-2 Directive (“NIS2”) applies to the most important IT suppliers to the financial sector.
DORANIS2National versions of guidelines on funds’ names now published
On 21 August 2024, the European Securities and Markets Authority (“ESMA”) published their guidelines on funds’ names (the “Guidelines”) in versions translated into all the official EU-languages.
ESMASustainability