Transparency code

Tracing its roots to the European Transparency Guidelines unveiled in 2004, the European SRI Transparency Code, first launched in May 2008, was primarily aimed at increasing accountability and transparency on funds’ SRI policies and practices towards end investors in Europe. The Transparency Code was phased out throughout 2023 and as of January 2024, is no longer active.


Towards the end of 2022, the Eurosif Board decided to phase out the Transparency Code throughout 2023. The process followed the timeline outlined below and the Transparency Code was officially phased out as of 1 January 2024.

Why Eurosif has taken this decision?

When first launched in 2008, the European SRI Transparency Code (“Code”) played an important role in providing a standard for SRI funds to communicate their approach to sustainable investing through a simple and easily accessible list of core questions.

Today the EU has, through its Sustainable Finance Action Plan, set a range of mandatory disclosure and transparency standards for European financial market participants and their products.

With consideration of the current market environment and following feedback from a consultation process, the Eurosif Board does not see a market requirement for the Code and therefore took the decision to phase out the Code over the course of 2023.

Eurosif will continue its work to help further improve the European sustainable finance regulatory framework, including on transparency of financial products. 

February 2023 - 15 November 2023
February 2023 - 15 November 2023

New submissions and updates of existing submissions are still accepted.

16 November 2023 - 31 December 2023
16 November 2023 - 31 December 2023

New submissions and updates are no longer accepted

1 January 2024
1 January 2024

The phase-out is complete, and the Transparency Code is no longer in use

Referencing the adherence to the Transparency Code and the use of the TC code / mark in funds’ marketing or regulatory materials is no longer permitted.

For any query, please reach out to the Eurosif’s team using the following email address:

About the Transparency code

The Transparency Code was driven by a fundamental principle: asset manager signatories should be open and transparent, and disclose accurate, adequate and timely information to enable stakeholders, in particular retail investors, to understand the policies and practices of a given SRI fund. The Code was designed to cover a range of asset classes and it focused on Sustainable and Responsible Investment funds distributed publicly in Europe.

The Code was a mandatory requirement by some national SRI labels or trade associations in Europe (FNG label). In 2018, the Transparency Code was updated with the aim of reflecting the most relevant practices in Sustainable and Responsible Investment and Sustainable Finance.











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