On the 8 March 2021, the MFSA published a Circular which
provides financial market participants and financial advisers with
further information as to the application of sub-articles (1), (2)
and (3) of Article 8 of Regulation (EU) 2020/852 of the European
Parliament and of the Council of 18 June 2020 on the establishment
of a framework to facilitate sustainable investment, and amending
Regulation (EU) 2019/2088 (the "Taxonomy
Regulation").
Background
Article 8 of the Taxonomy Regulation requires those undertakings
falling within the scope of Directive 2014/95/EU (i.e. the
Non-Financial Reporting Directive or
"NFRD") to publish in their
non-financial statement or consolidated non-financial statement
information as to how and to what extent the undertakings'
activities are associated with economic activities which qualify as
environmentally sustainable in accordance with the provisions of
the Taxonomy Regulation. Undertakings falling within the scope of
the NFRD
