Sustainable Finance
Targeted consultation on the implementation of the Sustainable Finance Disclosures Regulation (SFDR)
Published on 20 December 2023
The ABBL supports the SFDR’s transparency objectives while calling for greater coherence with EU sustainable finance rules, simpler disclosures and better data availability.
Summary
On 14 September 2023, the European Commission launched a targeted consultation and a public consultation on the implementation of the Sustainable Finance Disclosures Regulation (SFDR), with a focus on legal certainty, the usability of the regulation as well as proposals to improve the existing framework.
The ABBL responded to the consultation by emphasising the following key messages:
- The relevance of the SFDR’s broad objective of improving the transparency regarding sustainability information to the market and enable investors to make informed decisions.
- The lack of coherence of the SFDR with the other pieces of the EU Sustainable Finance framework, especially with MiFID sustainability rules and concepts of clients’ sustainability preferences.
- Building as much as possible on elements of the SFDR to have required significant efforts and resources from Financial Market Participants and have become familiar to the market.
- Further harmonisation and simplification of the current disclosure requirements for all SFDR financial products, while addressing the need to quickly close the data gaps that hinder greater capital flow towards sustainable investments.
Contact: julien.froumouth@abbl.lu and marilyn.rinck@abbl.lu
Julien Froumouth
Head of Sustainability, ABBL
Published on 20 December 2023