The EU Platform on Sustainable Finance has recommended a significant update to the Sustainable Finance Disclosure Regulation (SFDR), introducing a revamped categorization system for investment funds. This move aims to enhance transparency and make ESG-focused investments more comprehensible to retail investors, aligning with broader sustainability goals. 

The proposed categories—“sustainable,” “transition,” “ESG collection,” and “unclassified products”—will replace the current Article 6, 8, and 9 classifications. Each category aligns with specific sustainability objectives. 

The changes aim to address criticisms of the current SFDR framework, including its overly burdensome disclosure requirements and lack of clear definitions. Recent research highlighted significant gaps in the quality and comparability of disclosed information under the existing system. 

Experts suggest the new categories, particularly sustainable and transition funds, will improve the quality of ESG reporting. However, concerns remain about the vague criteria for the ESG collection category, which could perpetuate weaknesses from the current Article 8 classification. 

The EU Commission is currently reviewing SFDR and will consider these proposals as part of its broader overhaul. The platform also recommends expanding SFDR to include a wider range of financial products, such as those regulated under Mifid II and the Insurance Distribution Directive. 

The proposed changes align with the UK’s Sustainability Disclosure Requirements, signaling a step toward harmonizing global ESG frameworks. However, gaps in areas like impact investing remain, underscoring the need for further research to refine the system. 

This reform highlights the EU’s commitment to advancing ESG integration and supporting the transition to sustainable finance, reinforcing its leadership in global sustainability practices. 

资料来源  

https://www.sustainableviews.com/european-commission-advisory-body-recommends-replacing-existing-sfdr-categories-0c9a96de/ 

https://finance.ec.europa.eu/publications/categorisation-products-under-sfdr-proposal-platform-sustainable-finance_en 

https://www.responsible-investor.com/eu-platform-publishes-sfdr-category-recommendations/ 

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

https://www.simmons-simmons.com/en/publications/clz1bvfsc00j2txds8c2pltck/esg-european-parliament-study-recommends-changes-to-the-sfdr