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ARTICLE · 21 JULY 2025

Newsflash | ESMA Recent Updates On Sustainability Disclosures And Risks Integration

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The European Securities and Markets Authority (ESMA) has recently (i) identified areas where improvements to the supervision of sustainability risks and disclosures are needed...

LuxembourgFinance and Banking
Aurélien Hollard
Aurélien Hollard
Julie Pelcé
Julie Pelcé
Julien Robert
Julien Robert
Margherita Armand-Hugon
Margherita Armand-Hugon
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Introduction

The European Securities and Markets Authority (ESMA) has recently (i) identified areas where improvements to the supervision of sustainability risks and disclosures are needed; and (ii) promoted clarity in sustainability-related communications:

  • On 30 June 2025, ESMA, acting in coordination with National Competent Authorities (NCAs), published the final report on its Common Supervisory Action conducted in 2023–24 (the Final Report);
  • On 1 July 2025, ESMA published its thematic notes promoting clarity in sustainability-related claims used in non-regulatory retail communications, emphasising that they should be clear, fair and not misleading, with particular attention to the risk of greenwashing (the Thematic Notes).

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