The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have last month issued a Consultation Paper seeking input on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.
These standards have been developed under the EU Regulation on sustainability-related disclosures in the financial services sector (SFDR), aiming to:
- strengthen protection for end-investors;
- improve the disclosures to investors from a broad range of financial market participants and financial advisers; and
- improve the disclosures to investors regarding financial products.