State-of-play: Pre-legislative phase.
- Link to group meetings criteria and documents on EU Ecolabel on Financial Services.
- It is expect for the next JRC stakeholder meeting to take place in November and the actual adoption to be postponed to 2021.
- On 18 June 2019, the Commission published the TEG report on EU Green Bond Standard
Commission to reflect on how to take this forward. Commission and TEG to design the temporary voluntary registration system of approved verifiers.
State-of-play: Political agreement found in trilogue.
- On the 24 May 2018, the Commission published a proposal on sustainable investments and sustainability risks
- On 2 August 2018, the ECON Committee published a report on disclosures relating to sustainable investments and sustainability risks.
- On 18 September 2018 ECON Committee published amendments on the disclosures
- On 5 November 2018 ECON adopted and soon after published its report on disclosure relating to sustainable investments and sustainability risks
- Vote in ECON: 5 December 2018
- On 18 April 2019, the plenary session has adopted the trilogues agreement.
- Council reached an agreement on 19thDecember.
- On 7 March 2019 trialogue agreement has been reached.
- The agreement will be now submitted to the Council Formal adoption followed by publication in the Official Journal.
- On 27 September ECON Committee published a draft report on the proposal for a regulation
- Vote in ECON on 10 December 2018.
- On 19 December 2018, the Council reached an agreement on benchmarks and disclosure requirements.
- On 18 June 2019, the Commission published the TEG report on EU Climate benchmarks and benchmark’ ESG disclosure
- On 5 July 2019, the Commission launched a call for feedback on climate benchmarks and benchmarks’ ESG disclosure
- A trilogue agreement was reached on 25 February 2019.
- The agreement has been approved by the EP plenary on 26 March.
- Formal adoption of the Benchmark legislation by the Council followed by publication in the OJ.
- TEG to open a consultation on its report, and publish a final version in September 2019.
- Delegated acts are expected to be adopted by the EU Commission early 2020.
- On 19 December 2018, ESMA opened a consultation on disclosure requirements applicable to credit rating.
State-of-play: Legislative phase.
State-of-play: legislative work ongoing.
- On 24 May 2018 the proposal was published in the Official Journal.
- On 18 June 2019, the Commission published the TEG reporton the classification system for environmental –sustainable activities
- On 4 July 2019, the Commission launched a call for feedback on taxonomy
- Discussions are on-going.
- On 16 November 2018, ENVI, together with the ECON Committee published a draft report on the proposal
- On 17 December 2018, ECON Committee published the amendments tabled on taxonomy. Link 1 Link 2
- On the 11thof March 2019, the EP adopted its report.
- On 13 March 2019, ECON published the report as voted in Committee.
- On 28 March 2019, the EP voted in plenary session adopting its position on taxonomy
- Council to reach general agreement on the Taxonomy proposal. An then start of Trilogue negotiations (TEG work to feed into the negotiations).
- European Commission to launch a consultation on the TEG Taxonomy report (Early July 2019).
- Set up a High Level Expert Group on sustainable finance on December 2016.
- Mid-term report of the HLEG published together with a consultation on 13 July 2017.
Link: Interim Report on Sustainable Finance:
- On 13 November 2017 the Commission launched a public consultation on institutional investors and asset managers’ duties regarding sustainability.
- Publication of a consultation of the fiduciary duty of institutional investors and asset managers on 13 November (consultation runs until 28 January 2018).
On 31 January 2018, the HLEG Report was published.
- On 8 March 2018, the Commission published its Action Plan on Sustainable Finance.
- On 10 January 2019, the Technical Expert Group published a report which aims at assisting companies in developing quality-related disclosure that comply with NFRD and addresses the recommendations of the TCFD.
- On 30 January 2019 Commission published a reflection paper on a more sustainable Europe by 2030
- On 6 March 2019, the Commission published the interim report on Green Bond Standards
- On 20 March 2019, the Commission has published the preliminary report on EU Ecolabel for Financial Products
- On 20 March 2019, The Commission has published the Technical report on the development of EU Ecolabel criteria for retail financial products
- The Commission published guidelines on corporate climate-related information reporting
On 2 February 2018, the ECON Committee’s draft report on sustainable finance was published.
On 21 February 2018, the ECON Committee held a public hearing on sustainable finance.
- On 24 May 2018, the Commission published a number of proposals aimed at financing sustainable growth, namely a proposal on Taxonomy, a proposal on and positive carbon benchmarks, a proposal on sustainable investment disclosure duties, and two delegated acts on MiFID and IDD. Link
- On 13 June 2018 the list of members of the Technical Expert Group on Sustainable Finance was published
- On 17 January 2019, ESMA published a series of Q&A on Insurance Distribution Directive.
- On 22 July 2019, EIOPA released the Report General Good Rules in the context of the proper functioning of the Insurance Distribution Directive (IDD) and the internal market.
- On 25 February 2019, ESMA published the responses received to its consultation on integrating sustainability risks and factors in MiFID II, and in the UCITS Directive/AIFMD.
- On 3 May 2019, ESMA submitted technical advice on sustainable finance to the Commission.