ICMA publishes an update on the EU sustainability disclosure regime


ICMA memorandum - the sustainability disclosure regime of the European Union - S22 September 2021 New and amended EU legislation is introducing significant sustainability and ESG related disclosure requirements that are impacting all participants in the European capital markets.

This publication provides a summary of these various requirements, how they interact with each other and most importantly what they mean for ICMA’s constituencies such as issuers and investors.

The paper aims to give a comprehensive and practical overview, covering the following regulations:
  • The Taxonomy Regulation, article 8 reporting obligations and – including the delegated act adopted on 6 July 2021
  • The Sustainable Finance Disclosure Regulation (SFDR) and the Regulatory Technical Standards (RTS).
  • The Non-financial Reporting Directive (NFRD) and proposed Corporate Sustainability Reporting Directive (CSRD)
  • The Low Carbon Benchmark Regulation.
  • Credit Rating Regulation

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