ARTICLE · 22 JUNE 2023

The EU Sustainable Finance Package: Key Points For Private Fund Managers

Goodwin Procter LLP

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On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework.

European UnionFinance and Banking

Andrew Henderson

Sebastian Bruchwitz

Sebastian Seeger

On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework.

Its aim is to: "ensure that the EU sustainable finance framework continues to support companies and the financial sector, while encouraging the private funding of transition projects and technologies."

Highlights

These are the highlights we think of most interest (also discussed further below):

The Commission indicates that a consultation on assessing the Sustainable Finance Disclosure Regulation (SFDR) will be launched in autumn 2023 (which in due course may lead to 'SFDR II').
There are some useful points of clarification in the Commission's new FAQ:
- Investments in "environmentally sustainable economic activities" pursuant to the EU Taxonomy Regulation (Taxonomy) automatically qualify as SFDR "sustainable investment."

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