Tracing its roots to the European Transparency Guidelines unveiled in 2004, the European SRI Transparency Code, first launched in May 2008, has primarily aimed at increasing accountability and transparency on funds’ SRI policies and practices towards end investors in Europe.
Towards the end of 2022, the Eurosif’s Board decided to phase out the Transparency Code throughout 2023. The process will take place in subsequent steps, until 1st January 2024 (timing and actions are detailed below).
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 have therefore taken 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.
New submissions and updates of existing submissions are still accepted.
New submissions and updates are no longer accepted
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: firstname.lastname@example.org
The Transparency Code has been 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 focuses on Sustainable and Responsible Investment funds distributed publicly in Europe.
The Code has been 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.