Publications related to Regulation (EU) 2019/2088 – SFDR and Regulation (EU) 2020/852 – the EU Taxonomy Regulation

Published on 20 April 2023 Email this Share this on LinkedIn Share this on Facebook Communiqué Publications related to Regulation (EU) 2019/2088 – SFDR and Regulation (EU) 2020/852 – the EU Taxonomy Regulation The CSSF would like to draw attention to recent publications made by the European Supervisory Authorities (the ESAs) in respect of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR), of Commission Delegated Regulation (EU) 2022/1288 (the SFDR RTS), and of Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment (the EU Taxonomy Regulation). Q&As of the European Commission A third set of Q&As on the interpretation of SFDR has recently been adopted by the European Commission and published by the ESAs on 14 April 2023. As a reminder, a first set of Q&As had been adopted by the European Commission and published by the ESAs in July 2021 and a second set of Q&As had been adopted by the European Commission and published by the ESAs in May 2022. Concomitantly to the publication of the third set of Q&As, amendments to the first and second Q&As on the interpretation of SFDR were adopted by the European Commission and published by the ESAs. Delegated Acts relating to the EU Taxonomy Regulation On 5 April 2023, the European Commission published two draft delegated acts relating to the EU Taxonomy Regulation. The first draft delegated act notably provides a new set of technical screening criteria for the four environmental objectives pursuant to Article 9 (

1. c)to (
2. f)of the EU Taxonomy Regulation: the sustainable use and protection of water and marine resources; the transition to a circular economy; pollution prevention and control; and the protection and restoration of biodiversity and ecosystems. It also provides amendments to Delegated Regulation (EU) 2021/2178 (the Taxonomy Disclosures Delegated Act). The second draft delegated act amends Delegated Regulation (EU) 2021/2139 (the Climate Delegated Act) to add or complement the technical screening criteria for climate change mitigation for certain economic activities in the transport and manufacturing sectors. The draft delegated acts are open for feedback until 3 May 2023. Joint consultation on the review of the SFDR RTS On 12 April 2023, the ESAs published a consultation paper on a proposed review of the SFDR RTS regarding PAI and financial product disclosures. Comments can be submitted via a dedicated response form until 4 July 2023. Main topic: Sustainable finance Relevant for Credit institutions Investment firms Investment fund managers Undertakings for collective investment in transferable securities (UCITS) Undertakings for collective investment subject to Part II of the Law of 17 December 2010 (Part II UCIs)