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ARTICLE · 20 SEPTEMBER 2023

SFDR: Overhaul Proposed By The Commission

William Fry LLP
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The fast and challenging pace of EU sustainable finance policy continued last week with the publication of a Commission consultation on revisions to SFDR.

European UnionStrategy
Patricia Taylor
Patricia Taylor
Nessa Joyce
Nessa Joyce
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The fast and challenging pace of EU sustainable finance policy continued last week with the publication of a Commission consultation on revisions to SFDR.

This is despite the regime only being fully effective from 1 January this year and the ongoing process to revise SFDR delegated measures (Level 2).

The consultation, which will run until 15 December 2023, takes the form of a request for feedback on many of the industry's key SFDR compliance issues, including data gaps, legal uncertainty, greenwashing risks and the lack of focus on transition-based investment strategies within the regime.

Feedback is also sought on several, potentially highly impactful, reform proposals. These include the extension of the scope of product-level disclosure rules to encompass all products and the establishment of a sustainable product labelling regime to address policymakers' long-held concerns about the use of Articles 8 and 9 as marketing tools.

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