Regulatory
Written by Christopher Garner
Feb 8, 2021
Purpose of the proposed RTS is to protect investors through enhancing environmental, social and governance (ESG) disclosure on the impact of investment decisions and on the sustainability features of financial products. As a result, the risk of greenwashing will be reduced and investor demand for sustainable products will be met.
Significant revisions in this final draft RTS compared to the previous draft RTS (published as part of the joint consultation paper on April 23, 2020) are:
Core key challenges include:
This report has been received by the European Commission, which is expected to endorse the RTS within three months of its publication.
Johannes Waldheim, Head of Product Management for Asset Management, has welcomed the draft RTS to improve ESG reporting: “Active and passive funds must both provide the same information with the same information requirements. A passive fund, can simply refer to the index, but must declare this. SDFR compliant and early positioning of Article 6, 8 and 9 products with all documents and calculations is essential. With an SFDR module integrated into our reporting platform, we support our clients with ESG-compliant data, methodology reconciliation, all calculations and documents, and web services in line with the SFDR Level 1 required by March 10, 2021.”
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