On 18 June, the European Supervisory Authorities (EBA, EIOPA and ESMA) published a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation .
The ESAs call for a coherent sustainable finance framework that caters for both green transition and enhanced consumer protection, considering the lessons learned from the functioning of the SFDR, and building on the objectives of the Retail Investor Strategy to enhance retail investors’ confidence and participation in financing the economy.
The ESAs have made a series of recommendations to the European Commission, including to consider introducing a product classification system – based on sustainability categories and/or a sustainability indicator, to help consumers navigate sustainable products.
The Commission is assessing stakeholders’ responses to improve the European framework for sustainable finance. It is expected that a review of the SFDR will be launched by the next Commission.