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Publication 03 Dec 2023 · Luxembourg

What to expect on ESG and Greenwashing?

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SFDR consultation report
▪ Report resulting from the consultation ending on 15 December 2023.
▪ Report would potentially cover the transformation of the SFDR into a categorization system through a reform of article 8 and 9 classification.

Greenwashing
▪ NCA’s supervisory activities, share knowledge and experiences with ESMA until Quarter 3 of 2024 to further convergence on greenwashing matters.
▪ ESMA to adopt the official guidelines on the fund’s name within Q1 or Q2 2024 (timing unclear).

Green bonds
Entry into force of the European green bonds standards with:
▪ Application of the technical screening criteria and grandfathering rules
▪ Introduction of additional disclosure requirements in case of securitisation bonds and optional disclosures for bonds marketed as environmentally sustainable or sustainability-linked bonds

CSRD implementation and implementation law
▪ Application of CSRD as of financial year 2024 for large undertakings
▪ Transposition by Member states by 6 July 2024.
▪ Adoption by the European Commission of a second set of sustainability reporting standards by means of delegated acts by 30 June 2024.

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