On 25 February 2021, the European Supervisory Authorities
("ESAs") published a
joint supervisory statement (the "ESA
Statement") providing guidance on the application of
Regulation (EU) 2019/2088 on sustainability-related disclosures in
the financial services sector, as amended (the "Sustainable
Finance Disclosure Regulation" or
"SFDR").
The main objective of the ESA Statement is to provide
further guidance on and ensure consistent application of
sustainability-related disclosures in the so-called interim period
between 10 March 2021 and 1 January 2022.
Delayed Level 2 RTS application date
Most so-called Level 1 provisions on sustainability-related
disclosures laid down in the SFDR apply from 10 March 2021 onwards.
However, the proposed application date for the
draft level 2 Regulatory Technical
Standards ("RTS") has been
delayed until 1 January 2022.
