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The Association of Chartered Certified Accountants (ACCA) has called on the European Commission to simplify its sustainable finance disclosure rules, warning that current regulatory complexity is hampering business efforts to meet ESG targets and adopt a carbon neutral strategy.
In its official feedback on the revision of the Sustainable Finance Disclosure Regulation (SFDR), the ACCA highlights how the overly detailed and burdensome requirements are discouraging private investment in sustainability and complicating compliance—especially for smaller asset managers.
“At present, the SFDR requirements are too granular and complex. These constraints will prevent the SFDR’s aims and EC’s objectives being fully achieved,” said Vikas Aggarwal, Regional Head of Public Affairs at ACCA.
Key Concerns Raised by ACCA:
The ACCA recommends a transition-focused approach, allowing flexible and phased implementation of ESG disclosures. The group also encourages the European Commission to use its first-mover advantage to shape global sustainable finance standards.
“We urge the EC to streamline the SFDR and promote international consistency, strengthening ESG frameworks while reducing reporting burdens,” said Joe Fitzsimons, ACCA’s Regional Lead for Policy and Insights.
As the EU revisits SFDR regulations, this presents a strategic opportunity to balance sustainability ambitions with practical business execution—reinforcing Europe’s leadership in ESG and carbon neutral strategy implementation.
Source:
https://esgnews.com/eu-sustainable-finance-rules-obstruct-business-practices/
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