Yesterday the ESAs published a Joint ESA Supervisory Statement on the application of the Sustainable Finance Disclosure Regulation.
Under the pressure of the European Commission Commissioner Mairead McGuinness, the ESAs finally reached an agreement on the draft PRIIPs KID RTS released in last summer.
On 4 February 2021, the Joint Committee of the ESAs published the final report on the draft RTS on Sustainable Finance Disclosures Regulation. The next step is the publication of the Regulation by the European Commission and its endorsement by the European Parliament and the Council.
The ESAs have proposed to apply these RTS as from 1st January 2022, excepted for the reporting on Scope 3 GHG emissions in Tables 1 and 2 of Annex I that shall apply from 1st January 2023.
We have considered that it has value to present the main changes adopted by the ESAs following the collection of the comments received during the consultation process launched last year in April. That is what you will find hereafter.
Last Friday, the FinDatEx Steering Group endorsed the final version of the EMT v3.1.
This version of the EMT will help exchanging ESG information under SFDR Level 1 from 10 March 2021.
This week, the Central Bank of Ireland issued a guidance dedicated to the closed-ended QAIFs in relation to the share class features.
Yesterday, the Joint Committee of the European Supervisory Authorities published the Final Report to the European Commission on the draft Regulatory Technical Standards (RTS) detailing the content, methodologies and presentation of disclosures under SFDR.
The draft proposes to the Commission to apply the Level 2 provisions as from 1 January 2022, therefore the job done to comply with Level 1 by 10 of March will not be totally lost but will need a rework to fully comply with them. Be aware that this text still needs to be approved by the Commission and endorsed by the European Parliament.