MiFID II: Application of MiFID II (Directive 2014/65/EU)

Low Carbon Benchmark Regulation: The European Commission announces forthcoming measures to enhance the ESG transparency of benchmark methodologies and an initiative to develop standards for the methodology of low carbon benchmarks in the EU. A Technical Expert Group is set up to assist the EU to achieve these objectives

GBS: Technical Expert Group publishes the “Interim Report on EU Green Bond Standard”

GBS: Technical Expert Group publishes the final “Report on EU Green Bond Standard”

Low Carbon Benchmark Regulation: The Technical Expert Group (TEG) publishes the “Climate benchmarks and benchmarks’ ESG disclosures” report containing the TEG’s recommendations on standardized disclosures

SFDR: Regulation published in the Journal of the EU

Low Carbon Benchmark Regulation:

• Publication of the Regulation (EU) 2019/2089  in the Official Journal of the EU
• Entry into force of the Low Carbon Benchmark Regulation (Regulation (EU) 2019/2089)

Low Carbon Benchmark Regulation: Benchmark administrators have to comply with the reporting requirements

Taxonomy: Publication of the EU Taxonomy in the Official Journal of the EU

Taxonomy: Entry into force EU Taxonomy

Low Carbon Benchmark Regulation: EU adopts new rules setting out minimum technical requirements for the methodology of EU low carbon benchmarks

Low Carbon Benchmark Regulation:

• Publication of the European Commission Delegated Regulation (EU) 2020/1818 in the Official Journal of the EU
• Entry into force of the European Commission Delegated Regulation (EU) 2020/1818

SFDR: Application of SFDR

CSRD: European Commission issues a proposal for the CSRD to amend the reporting requirements of the NFRD

MiFID II: Adoption of the Delegated Act 2021/1253

GBS: The European Commission presents its proposal for a Regulation on EU Green Bond Standard

MiFID II:

• Publication of Delegated Act 2021/1253 integrating sustainability preferences in the Official Journal of the EU
• Entry into force of the Delegated Act 2021/1253

Taxonomy:

• Publication of first Delegated Act (EU) 2021/2139 on sustainable activities for climate change adaptation and climate change mitigation objectives in the Official Journal of the EU
• Entry into force of the Delegated Act 2021/2178 on disclosures in line with the EU Taxonomy

Taxonomy: Application of First Delegated Act 2021/2139 for economic activities contributing to climate change adaptation and climate change mitigation

CSDDD: The European Commission issues its proposal for CSDDD

SFDR: Adoption of the SFDR-RTS

CSDDD: The EU Council releases a ‘general approach’ to the proposal

CSRD:

• Adoption of CSRD by the European Parliament
• Publication of final text of CSRD in the Official Journal of the EU

Taxonomy: Application of the EU Taxonomy extension for specific gas and nuclear activities

CSRD: Entry into effect

SFDR:

• Application date of SFDR-RTS
• Mandatory use of disclosure templates introduced by SFDR-RTS

SFDR: Introduction of revised disclosure templates

GBS: After inter-institutional negotiations, co-legislators reach a provisional agreement regarding the European Commission proposal for a Regulation on EU Green Bond Standard

MiFID II: ESMA issues revised guidelines on MiFID II

Taxonomy:

• Publication of draft second Delegated Act concerning the remaining four objectives by the European Commission
• European Commission publishes additional Delegated Act amending the first Delegated Act 2021/2139

SFDR: Publication of a joint consultation paper by the European Supervisory Authorities following the review of the SFDR Delegated Regulation regarding PAIs and financial product disclosures

Taxonomy: Close of the feedback period on the second Delegated Act for the remaining 4 environmental objectives

SFDR: Final date to report for the first time over reference year 2022 on PAIs of investment decisions

CSDDD: Proposal adopted by the European Parliament

CSRD: Issuance of the draft Delegated Act, including set 1 reporting standards "ESRS" 

Taxonomy: Adoption of the proposal Delegated Act for the remaining four environmental objective

SFDR: End of the consultation period for the joint consultation paper published on 12 April 2023 for the revised SFDR-RTS

CSRD: The European Commission adopts the Delegated Act with the first set of ESRS

SFDR: The European Commission publishes its consultation on the implementation of SFDR

CSRD: Adoption of Set 2 standards

Taxonomy: Expected application date of the second Delegated Act for economic activities contributing to the remaining four environmental objectives

CSRD: Application date of the CSRD

CSRD: Deadline for Member States to implement the requirements into national law

CSRD: Adoption of Set 3 standards foreseen  

CSRD: Application of CSRD