13 Mar 2024Impact and ESGUpdatesInvest Europe has published an ESG KPI report covering data from 2022. Compared to their first edition published last year (covering data from 2021), which we touched upon in our previous Pulse update, there has been a 60% increase in the number of firms covered by the survey.
Sustainability
13 Mar 2024Impact and ESGUpdatesThe European Financial Reporting Advisory Group (“EFRAG”) has launched a public consultation on the Exposure Draft European Sustainability Reporting Standards for listed SMEs (“ESRS LSME ED”) and the Exposure Draft for the voluntary reporting standard for non-listed SMEs (“VSME ED”).
CSRDESRSSustainability
21 Feb 2024Impact and ESGUpdatesThe European Securities and Markets Authority (“ESMA”) has sent draft Guidelines on Enforcement of Sustainability Information (“Guidelines”) out for consultation.
ESMASustainability
11 Dec 2023Impact and ESGUpdatesThe EU Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (the “EU Green Bond Regulation”) has been published in the Official Journal of the EU and enters into force 20 December 2023.
Disclosure RequirementsGovernanceSustainability
24 Nov 2023Impact and ESGUpdatesThe Environmental Delegated Act introduces technical screening criteria for economic activities substantially contributing to one of the remaining four environmental objectives.
Sustainability
25 Oct 2023Impact and ESGUpdatesOn 17 October 2023, the EU Commission adopted their 2024 Commission Work Programme focusing mainly on strengthening EU’s competitiveness through reduction of burdens on businesses and rationalisation of reporting requirements.
GovernanceSustainability
25 Oct 2023Impact and ESGUpdatesOn 17 October 2023, the EU Commission and the advisory body, Platform on Sustainable Finance, introduced the EU Taxonomy Stakeholder Request Mechanism.
Sustainability
19 Oct 2023Impact and ESGUpdatesIn 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 StandardsSustainability
17 Oct 2023Impact and ESGUpdatesOn 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.
CSRDSustainability
9 Oct 2023Taxation / VATUpdatesOn 3 October 2023, an advance tax ruling was published according to which the National Tax Board has decided that an investment product structured as a Simple Agreement for Future Equity (SAFE) was not a “subscription right” covered by the Danish Share Capital Gains Act but was deemed a “financial contract” governed by article 29 of the Gains on Securities and Foreign Currency Act
Venture Capital
19 Sep 2023Financial RegulationUpdatesThe 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 / PRIIPS
19 Sep 2023Impact and ESGUpdatesOn 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.
CSDDDSustainability
22 Aug 2023Impact and ESGUpdatesThe 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.
ESMASustainability