The Sustainable Finance Disclosure Regulation (SFDR), introduced in 2021, is key to the EU’s efforts to enhance ESG transparency and promote a carbon-neutral strategy. However, recent assessments by European authorities have exposed compliance gaps, particularly with the Level 2 framework. Authorities like the Dutch AFM and French AMF have raised concerns about greenwashing risks and indicated stricter enforcement. Financial institutions must now ensure their SFDR disclosures are clear, accurate, and aligned with regulatory expectations to maintain investor trust and avoid penalties. 

The future of SFDR may involve tighter integration with the EU Taxonomy, clearer rules around sustainable and transition finance, and more robust disclosure requirements. The European Securities and Markets Authority (ESMA) has proposed phasing out the SFDR’s discretionary definitions of “sustainable investments” to mitigate greenwashing and has advocated for a greater focus on transition investments. As the SFDR framework evolves, financial market participants must stay informed of regulatory changes and improve the quality and precision of their sustainability disclosures. 

With regulators intensifying their focus on SFDR compliance, financial institutions must address gaps in data availability, ensure proper use of templates, and improve clarity in sustainability disclosures. These steps are essential for enhancing market transparency, fostering investor confidence, and supporting the EU’s broader ESG goals. 

In summary, the SFDR continues to evolve, driving the need for greater accountability and transparency in the financial sector. Institutions must adapt to tighter regulations, ensure alignment with both SFDR and the EU Taxonomy, and remain proactive in their sustainability reporting to meet investor and regulatory expectations. 

资料来源  

https://www.rsm.global/netherlands/en/insights/sfdr-compliance-addressing-deficiencies-enforcement-signals-and-future-regulatory-shifts 

https://www.stibbe.com/publications-and-insights/the-third-afm-report-on-sfdr-compliance-signals-tightening-enforcement 

https://www.europarl.europa.eu/RegData/etudes/STUD/2024/754212/IPOL_STU(2024)754212_EN.pdf 

https://www.researchgate.net/publication/380555764_Addressing_the_Flaws_of_the_Sustainable_Finance_Disclosure_Regulation_Moving_from_Disclosures_to_Labelling_and_Sustainability_Due_Diligence