Legal & Regulatory News

ESAs publish joint consultation paper on taxonomy-related sustainability disclosures

17 March 2021

The three European Supervisory Authorities (ESAs) have published a joint consultation paper (the Consultation) on the proposed Regulatory Technical Standards (RTS) on the content and presentation of disclosures under Articles 8(4), 9(6) and 11(5) of the Sustainable Finance Disclosure Regulation (SFDR) ((EU) 2019/2088).

The Taxonomy Regulation ((EU) 2020/852) empowers the ESAs to develop further RTS on taxonomy-related product disclosures. In order to fulfil these empowerments, the ESAs have agreed to amend the SFDR RTS, instead of creating a new ruleset, to minimise duplication and complexity in this area. The ESAs’ aim is to have the RTS function as a single rulebook for both the SFDR and the Taxonomy Regulation.

The deadline for responses to the Consultation is 12 May 2021 and the ESAs expect to issue a final report with draft RTS by late June or early July 2021.

Click here to access the Consultation.