WILLIAM FRY LLP’s Post

On sustainable finance by Dirk Zetzsche, Marian Unterstell, Ross Buckley and Douglas Arner of The University of Hong Kong arguing that generation, aggregation, and disclosure of sustainability data are central to the EU Sustainable Finance Framework #SustainableFinance #FinReg https://lnkd.in/d_-pcP8V

ESMA has set out its vision for the EU Taxonomy to have a greater role in the sustainable finance framework - in a gradual takeover of SFDR's more flexible "sustainable investments". This is set within a proposed new categorisation system for sustainable investment funds. Alongside these proposals, ESMA encourages "minimum basic sustainability information" to be disclosed, regardless of the ESG-related strategy of the fund. For further information, please do see our alert, as shared by Michael below. #esma #esg #sustainablefinance #sustainability #sfdr #taxonomy #funds #proskauer

The EU has been working since 2020 to develop the sustainable finance industry, tackling growth and greenwashing issues. But what does sustainable finance look like in legal terms? Find out how policy in the EU is shaping the sustainable finance environment. https://fnlink.co/3SpQZBL (From FiscalNote EU Issue Tracker) #finance #sustainablefinance #EU #sustainability #greenwashing

🌿 ESMA’s Long-Term Vision for Sustainable Finance 🌿 ESMA has outlined a comprehensive long-term vision to enhance the EU’s sustainable finance framework. This publication is in line with the recently published ESA's Joint opinion - key recommendations include making the EU Taxonomy the central reference point, adapting transparency requirements and implementing a product categorization system. We have summarized the update in our article below - please feel free to reach out if you have any questions. #SustainableFinance #ESG #ESMA #FinanceFramework #Sustainability

Australia's sustainable finance roadmap announced, with key priorities including: -mandatory climate-relating reporting -a sustainable finance taxonomy -a labeling regime for sustainable investments. Some lessons to be learnt from TCFD / EU SFDR & Taxo / UK SDR.

ESMA: Sustainable Finance ! ESMA sets out its vision on the Sustainable Finance Framework ! The European Securities and Markets Authority (#ESMA), the EU’s financial markets regulator and supervisor, has today published an Opinion on the #SustainableFinance Regulatory Framework, setting out possible long-term improvements. ESMA acknowledges that the EU Sustainable Finance Framework is already well developed and includes safeguards against #greenwashing. At the same time, ESMA considers that, in the longer-term, the Framework could further evolve to facilitate investors’ access to sustainable investments and support the effective functioning of the Sustainable Investment Value Chain. Main recommendations for the European Commission’s consideration: - The EU Taxonomy should become the sole, common reference point for the assessment of sustainability and should be embedded in all Sustainable Finance legislation; - The EU Taxonomy should be completed for all activities that can substantially contribute to environmental sustainability and a social taxonomy developed; - A definition of transition investments should be incorporated into the Framework to provide legal clarity and support the creation of transition-related products; - All financial products should disclose some minimum basic sustainability information, covering environmental and social characteristics; - A product categorisation system should be introduced catering to sustainability and transition, based on a set of clear eligibility criteria and binding transparency obligations;  - #ESG data products should be brought into the regulatory perimeter, the consistency of ESG metrics continue to be improved, reliability of estimates ensured; and - Consumer and industry testing should be carried out before implementing policy solutions to ensure their feasibility and appropriateness for retail investors. This Opinion builds on the findings of the ESMA Progress Report on Greenwashing and the Joint ESAs Opinion on the review of the #SFDR. The Opinion also represents the last component of ESMA's reply to the EC Request for input related to greenwashing, next to the Final Report on Greenwashing. Best regards Hartmut Renz Further information can be found here: https://lnkd.in/eJd5rHBp

Among 2023’s landmark climate talks, the sustainable finance landscape has continued to exhibit encouraging signs of maturity. Despite the dampening effects of macroeconomic headwinds on green investment levels, the sector has demonstrated resilience. Progress has been particularly notable in the evolution of financial products and regulatory frameworks. Yet, recent policy and regulatory developments underscore the global commitment to addressing issues of greenwashing and mislabelling, emphasising the need for stringent measures. By Edward Maling, research analyst, OMFIF and Arunima Sharan, senior research analyst, OMFIF

📢 Sustainable finance is key for scaling up EU investments 📄 The recently published report by Mario Draghi, the former Italian Prime Minister, emphasises the urgent need for Europe to boost its economic growth and competitiveness. The report also highlights that decarbonisation is essential in reaching these objectives. 📈 To achieve this, the report provides a clear picture of the current EU investment gap, estimated at up to €800 billion annually. A massive leverage of private investments is needed to fill this gap.  ⚠ While the report provides some useful recommendations on the Capital Markets Union (#CMU), Eurosif strongly disagrees with how it presents EU sustainable corporate reporting and due diligence rules as “regulatory burdens”. This disregards their essential role in advancing industrial decarbonisation and scaling up investments for the transition to a sustainable economy.  🔍 The Corporate Sustainability Reporting Directive (#CSRD) and European Sustainability Reporting Standards (#ESRS) are essential for investors to make informed investment decisions and key drivers of investments towards decarbonisation. ⚖ The Corporate Sustainability Due Diligence Directive (#CSDDD) is vital in ensuring the largest companies set and implement decarbonisation transition plans, including climate targets, as well as to manage their environmental risks and prevent human rights breaches. 🌱 While Eurosif supports clarity, consistency and usability of EU sustainable finance rules, streamlining must not result in deregulation. Directives such as the CSRD and CSDDD must be preserved and duly implemented for the EU to meet its climate targets and scale-up its sustainable growth. 🔗Find Eurosif’s positions on CSRD/ESRS here: https://lnkd.in/e2NfZwx4 🔗Find Eurosif’s positions on CSDDD here: https://lnkd.in/eidSYJ8f 🔗 Find the full version of the #Draghireport here: https://lnkd.in/dc9rGXvw

The European Green Bond label is coming – read an inspiring blog about this new regulation from my brilliant colleagues Tero Tuomisto, Valter Olkkonen and Lia Heasman. https://lnkd.in/d3YxWNmv #sustainable finance #green bonds #EuGB

🚨🌱 The Australian Sustainable Finance Taxonomy (ASFT) is coming mid-2025. It’s voluntary at first, but critical for future funding. Read more and start preparing now! https://bit.ly/4d2ewQl