Sustainable finance developments
Posted - 31.03.2021
Since 10 March 2021, credit institutions and investments firms providing portfolio management services or investment advice, terms defined by MIFID II, must comply with Level 1 transparency obligations regarding the impact of ESG factors on their activities and products, as set out in the Disclosure Regulation (EU) 2019/2088 (SFDR). The insurance and pension sector is also affected, depending on activities and products offered.
Level 2 obligations will become binding only as of 2022.
Additional legislative work at EU level is underway to further the objectives on green finance set out in the European Green Deal.
For more details on this topic, please refer to the article here.