Legal & Regulatory News

ESMA consults on draft advice under Article 8 of the Taxonomy Regulation

The European Securities and Markets Authority (ESMA) has published its draft advice to the European Commission under Article 8 of the Taxonomy Regulation for public consultation. Article 8 requires the Commission to adopt a delegated act specifying the content, presentation and methodology of key performance indicators (KPIs) to be disclosed by both financial and non-financial undertakings subject to the Non-Financial Reporting Directive (NFRD) by 1 June 2021.

A final report containing a summary of consultation responses and a final version of ESMA’s advice is expected to be delivered to the Commission at the end of February 2021.

The deadline for responses to the consultation is 4 December 2020.