ICMA responds to ESAs’ joint consultation on the review of the SFDR Delegated Regulation


3 July 2023 ICMA has responded to the ESAs’ joint consultation on the review of the SFDR Delegated Regulation though a dedicated Taskforce between its Asset Managers and Investor Council and the Executive Committee of the Principles.

In its response, ICMA:

  • Queried the timing and sequencing of the proposed Level 2 amendments given the upcoming broader review of the SFDR framework;
  • Argued for ensuring full alignment of requirements across various EU sustainable finance regulations;
  • Supported maintaining the status-quo for the DNSH framework for the time being;
  • Highlighted the current shortcomings of the EU Taxonomy framework and argued for flexible, common, and clear market guidance for Taxonomy estimates;
  • Supported additional transparency for and harmonisation across products with GHG targets while arguing for flexibility in the interim for methodologies and metrics to evolve and mature; and
  • Subject to broader timing and sequencing, supported in substance, the simplification of templates.

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