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Fund Distribution Alert 2020-16

Fund Distribution Alert 2020-16

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Said Fihri

Partner, ADV – Investment Services

KPMG in Luxembourg

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Joint ESA consultation on ESG disclosure templates

On 21 September 2020, the three European Supervisory Authorities (ESAs) - the EBA, EIOPA and ESMA, launched a survey on ESG (environmental, social, governance) financial product templates.

Back in April 2020, the ESAs invited stakeholders to comment on its consultation paper setting out the proposed Regulatory Technical Standards (RTS) on content, methodologies and presentation of disclosures under the Sustainable Finance Disclosure Regulation (SFDR) (for more detail, please refer to our “Fund Distribution Alert 2020-09”).

The ESAs are now seeking public feedback on presentational aspects of product templates and more specifically three drafted pre-contractual and periodic disclosure templates as follows:

  1. Principal adverse impacts statement;
  2. Additional climate and other environment-related indicators;
  3. Additional indicators for social and employee, respect for human rights, anti-corruption and anti-bribery matters.

Four additional templates, including one for periodic reports, remain to be developed. The ESAs’ goal is to standardize the disclosure of information for, and ease comparability of, ESG financial products by means of these mandatory templates.

The templates will affect Alternative Investment Fund Managers (AIFMs), Undertakings for Collective Investment in Transferable Securities (UCITSs), insurance undertakings, Institutions for Occupational Retirement Provision (IORPs) and providers of pan-European Personal Pensions Products (PEPPs).

The survey is open for comments until 16 October 2020.

Please feel free to contact us should you require any additional information.

The survey is available here

Contact

Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu


Stephanie Zedda
Senior Manager
+352 22 51 51 7271
stephanie.zedda@kpmg.lu

Please note that any information provided is general in nature, is based on the latest publicly available information as analyzed on a best endeavor basis and does not constitute any specific legal opinion or advice.

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