Sustainability disclosures will be simplified and extended by ESAs
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published a Consultation Paper on 12 April 2023, proposing amendments to the Delegated Regulation of the Sustainable Finance Disclosure Regulation (SFDR) in response to issues that have emerged since its introduction.
The proposed changes to the disclosure framework include expanding the list of universal social indicators for disclosing negative impacts of investment decisions, refining other indicators for adverse impacts, and adding product disclosures for decarbonization targets.
The ESAs also propose technical revisions, such as improving disclosures on how sustainable investments do not harm the environment and society, simplifying pre-contractual and periodic disclosure templates, and adjusting provisions for financial products with underlying investment options.
The consultation period for these proposals will be open until 4 July 2023.
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