With the increasing activity in Environmental, Social, and Governance (ESG) and impact investing we attempt to provide knowledge and insights on the subject. You’ll find updates and articles on how and ways to go about it, legislation, ESG Work Flows as well as trends and challenges.
In June 2023 the European Commission published and adopted a sustainable finance package with measures to expand and strengthen the EU sustainable finance framework. This update provides a closer overview of those measures which are now subject to scrutiny by the European Parliament and the Council.
Regulatory Technical StandardsSustainabilityOn 13 October 2023, the legislative proposal for implementation of the Corporate Sustainability Reporting Directive (“CSRD”) and a number of appertaining executive orders went out for consultation.
CSRDSustainabilityOn 14 September 2023, the European Commission initiated two consultations on the implementation of SFDR. The consultations focus on, among others, the regulation’s useability and role in combatting greenwashing.
Disclosure RequirementsRegulatory Technical StandardsSustainabilityOn 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.
CSDDDSustainabilityOn 30 August 2023, the Danish Financial Supervisory Authority (“DFSA”) published a memo describing the requirements in SFDR art. 11 for periodic reporting.
ComplianceDisclosure RequirementsSustainabilityThe 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.
ESMASustainabilityOn 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.
CSRDESRSSustainabilityThe updated guide takes regulation and guidance from public consultations and Q&A’s since July 2022 into account. Further, it reflects the most recent market practice on the application of the regulations.
ComplianceDisclosure RequirementsSustainabilityThe EU Commission has published its answers to questions on the interpretation of SFDR. The questions were put forward by the ESAs in September 2022 in order to receive clarification within central aspects of SFDR.
Disclosure RequirementsSustainabilityThe EU Commission has published its answers to questions on the interpretation of SFDR. The questions were put forward by the ESAs in September 2022 in order to receive clarification within central aspects of SFDR.
Disclosure RequirementsSustainabilityThe 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 StandardsSustainabilityInvest Europe, the trade association representing Europe’s private equity and venture capital sector, has published its first ESG KPI report with data from 2021.
GovernanceVenture CapitalOn 3 February 2023, the Danish Financial Supervisory Authority (“DFSA”) published a thematic review of sustainability disclosures for eight funds with sustainable investments as their objective.
ComplianceDisclosure RequirementsSustainabilityIn general, the Guidelines, last updated in 2011, are a set of non-binding recommendations to businesses for ensuring responsible business conduct in all areas where business interacts with society.
ComplianceGovernanceSustainabilityOn 20 February 2023, ESMA closed their consultation on Guidelines on funds' names using ESG or sustainability-related terms launched back in November 2022.
ComplianceESMASustainabilityOn 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 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.
ComplianceCSRDESMAESRSSustainabilityOn 9 February 2023, a summit was held in the European Council in which, among other things, a green industrial plan and other measures to secure EU’s competitiveness going forward were discussed.
Cross-BorderGovernanceSustainabilityRecently, the EU Commission presented a plan for a Net-Zero Industry Act and a European Sovereignty Fund as part of a bigger Green Deal Industrial Plan. The initiatives shall be seen in connection with the European Green Deal and the goal of making EU climate neutral by 2050.
Cross-BorderGovernanceSustainabilityOn 1 January 2023 new rules have imposed stricter requirements for targets and policies on the gender composition of managements. These rules cover both large Danish companies (covered by accounting class C), including state-owned and some listed companies (covered by accounting class D), as well as certain companies within the financial area
ComplianceDanish RegulationSustainabilityThe European Commission expert group; Platform on Sustainable Finance, has published a final report on the minimum safeguards laid out in Article 3 and 18 of the Taxonomy Regulation. It replaces the draft report published in July 2022.
ComplianceCSDDDCSRDSustainabilityDelivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
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