6 Jan 2023
Impact and ESGUpdates
The CSRD has now been finally adopted after the Council of the European Union on 28 November 2022 approved the European Parliament’s position. On 16 December 2022, the directive was published in the Official Journal. The date of entry into force is 20 days from the publication date.
ComplianceCSRDSustainability
6 Jan 2023
Impact and ESGUpdates
Lately, EU has sharpened its focus on preventing greenwashing as well as strengthening the sustainability reporting requirements. One step, among others, is the recent passing of the CSRD. Another is a proposal published in March 2022 by the European Commission with amendments for the Directive 2005/29/EC on Unfair Commercial Practices (UCPD) as well as the Directive 2011/83/EU on Consumer Rights.
Cross-BorderDanish RegulationSustainability
9 Dec 2022
Impact and ESGUpdates
On 23 November 2022, the Danish Financial Supervisory Authority (“DFSA”) published a thematic review on sustainability-related information in remuneration policies. The DFSA reviewed information given by six selected pension funds and life insurance companies.
Sustainability
7 Dec 2022
Impact and ESGUpdates
On 31 October 2022, the European Commission adopted amendments to the Commission Delegated Regulation (EU) 2022/1288 determining regulatory technical standards (RTS) for the SFDR. The amendments aim to ensure that disclosures in future will ensure full transparency about investments in the sectors covered by the Complementary Delegated Act.
Disclosure Requirements
7 Dec 2022
Impact and ESGUpdates
On 1 December 2022, the Council adopted its general approach on the proposal for a Directive on Corporate Sustainability Due Diligence (CSDDD) which was adopted by the European Commission on 23 February 2022. This completes the negotiations in the Council.
CSDDDSustainability
21 Nov 2022
Impact and ESGUpdates
The European Parliament has passed the Corporate Sustainability Reporting Directive (“CSRD”). CSRD replaces the Non-Financial Reporting Directive (“NFRD”), and introduces higher requirements of more detailed reporting, and a mandatory EU sustainability reporting standard.
ComplianceCSRDSustainability
27 Oct 2022
Impact and ESGUpdates
The European Commission has proposed a prohibition on making products made with forced labour available on the EU market as well as exporting such products from EU. The proposal shall be seen in connection with the proposal for a Directive on Corporate Sustainability Due Diligence (CSDD) adopted by the European Commission in February.
5 Oct 2022
Impact and ESGUpdates
Invest Europe has published a set of ESG reporting guidelines with the aim of providing user-friendly and advanced guidelines on sustainability reporting within the European private capital sector.
Sustainability
30 Sep 2022
Impact and ESGUpdates
The Swedish Finansinspektionen has reviewed 30 Swedish-registered UCITS- and special funds with sustainable investment as their goal (SFDR article 9 funds). Finansinspektionen analyzed how fund managers met the requirements for providing sustainability-related information to investors.
Sustainability
4 Jul 2022
Taxation / VATUpdates
On 11 May 2022, the European Commission has presented a proposal for a directive providing for a debt-equity bias reduction allowance, or DEBRA, to help businesses access the financing they need and to become more resilient.
6 Jan 2022
ELTIFsUpdates
On 25 November 2021, the European Commission published its proposal to amend the Regulation of European Long-Term Investment Funds (ELTIFs) as part of a new Capital Markets Union (CMU) legislative package.
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