Publication by the European Supervisory Authorities of a Q&A on the regulatory technical standards under Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector
The CSSF would like to draw attention to the Q&A published by the Joint Committee of the three European Supervisory Authorities (i.e. EBA, EIOPA and ESMA – hereinafter referred to as the “ESAs”) in respect of Commission Delegated Regulation (EU) 2022/1288) of 6 April 2022 (hereinafter “SFDR RTS”) supplementing Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (hereinafter “SFDR”).
The ESAs have published the Q&A document on 17 November 2022, which aims at providing clarification notably in the following areas:
- Current value of all investments in principal adverse impacts (“PAI”) and Taxonomy-aligned disclosures
- PAI disclosures
- Financial product disclosures
- Taxonomy-aligned investment disclosures
- Financial advisers and execution-only financial market participants
As a reminder, the SFDR RTS specify in particular the content and presentation of information in relation to the promotion of environmental or social characteristics and sustainable investment objectives in pre-contractual documents, on websites and in periodic reports for financial products subject to Articles 8 or 9 of the SFDR. The SFDR RTS will apply from 1 January 2023 onwards.