On 12 April, the European Supervisory Authorities (ESMA, EBA, and EIOPA1) published a Consultation Paper proposing amendments to the European Commission’s Regulatory Technical Standards that implement Europe’s comparatively new environmental, social, and governance (ESG) regime – the Sustainable Finance Disclosure Regulation (SFDR).
European financial market participants (including non-European fund managers marketing funds into Europe) have taken some time to get comfortable with the interpretation and application of a regime which, although never intended to be a labelling regime for different funds, has become exactly that. The differences and overlap between the:
