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ARTICLE · 28 OCTOBER 2021

New Taxonomy-related Disclosures RTS Published

Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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Despite the delay to level II announced by the European commission ("EC") at the beginning of the summer 2021, the last few months have been busy for sustainable finance!

European UnionFinance and Banking
Isabelle Lebbe
Isabelle Lebbe
Antoine Peter
Antoine Peter
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DESPITE THE DELAY TO LEVEL II1 ANNOUNCED BY THE EUROPEAN COMMISSION (“EC”) AT THE BEGINNING OF THE SUMMER 2021, THE LAST FEW MONTHS HAVE BEEN BUSY FOR SUSTAINABLE FINANCE!

The market was given plenty of valuable information on the direction of travel of the EU sustainable finance agenda – from the EC's announcement of the Renewed Sustainable Finance Strategy on 6 July 2021, to its answers later that same month to the Q&A raised earlier this year by the ESAs (ESMA, EIOPA, and EBA).

One reason for the delayed entry into force of Level II was the need to amend the SFDR Regulatory Technical Standards (“RTS”) of February 2021 to include transparency requirements applicable to some financial products pursuant to the Taxonomy Regulation (“TR”). The ultimate goal: to create a single rulebook for sustainability disclosures under both the SFDR and the TR.

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