Communication à l’intention des acteurs du marché concernant l’application du règlement sur les notations ESG et les nouvelles obligations d’information prévues par le SFDR (uniquement en anglais)

The CSSF draws the attention of market participants to the fact that Regulation (EU) 2024/3005 of the European Parliament and of the Council of 27 November 2024 on the transparency and integrity of Environmental, Social and Governance (ESG) rating activities (the “ESG Ratings Regulation”) will start applying on 2 July 2026.

The ESG Ratings Regulation introduces a new disclosure requirement under Article 49, which amends Article 13 of Regulation (EU) 2019/2088 on sustainability‐related disclosures in the financial services sector (the “SFDR”). When financial market participants and financial advisers in scope of the SFDR issue and disclose to third parties an ESG rating as defined in Article 3, point (1) of the ESG Ratings Regulation, as part of their marketing communications, they shall include on their website the same information as required by point 1 of Annex III of the ESG Ratings Regulation. Financial market participants and financial advisers shall disclose in those marketing communications a link to the website disclosures.

The CSSF expects financial market participants and financial advisers to duly comply with the above‑mentioned provisions as from 2 July 2026.

The CSSF will continue to monitor ongoing regulatory developments within the EU regarding the SFDR and will adopt a proportionate approach in its supervisory practices, ensuring that both the scope and intensity of supervisory actions take into consideration the remaining uncertainties and potential evolution of the regulatory landscape.

The CSSF further highlights the public statement published by ESMA which clarifies that, from 2 July 2026 and until 2 November 2026, third parties may continue publishing or distributing ESG ratings issued by existing, but still unauthorised, ESG rating providers that have notified ESMA of their intention to continue operating in the Union, until ESMA has adopted a decision to grant or refuse the relevant authorisation, recognition or registration, as applicable.