ESMA has published its Final report on Taxonomy-related product disclosure RTS.
About the report:
The European Supervisory Authorities (ESAs) have developed through the Joint Committee (JC) draft Regulatory Technical Standards (RTS) with regard to the content and presentation of disclosures under Articles 8(4), 9(6) and 11(5) of Regulation (EU) 2019/2088 (hereinafter ‘Sustainable Finance Disclosure Regulation’ or ‘SFDR’).
The abovementioned Articles were inserted in the SFDR through Article 25 of Regulation (EU) 2020/852 (the ‘Taxonomy Regulation’ or the ‘TR’) which amends the SFDR. Following this amendment, the ESAs have been empowered to develop draft RTS on taxonomy-related product disclosures. Specifically, the ESAs have been empowered to develop further obligations to the SFDR product disclosures where the product makes sustainable investments contributing to environmental objectives.
The draft RTS text and accompanying Annexes included below set out the ESAs’ proposals. They reflect the responses to the ESAs’ Consultation Paper (JC 2021 22) published on 17 March 2021.