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Thursday, July 18, 2024

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European Banking Authority publishes updated supervisory statement on application of regulation on sustainability-related disclosures in financial services sector

GLOBAL: The European Banking Authority (EBA) has published an updated supervisory statement on the application of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (referred to as SFDR), a statement confirmed. The updated statement is a response to a list of queries regarding the SFDR from the Joint Committee of the European Supervisory Authorities submitted to the European Commission. 

The SFDR will come into effect on the 1st January 2023. Financial market participants will have to disclose sustainability features of their financial products for the first time by the 30th June 2023.

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