SFDR and Taxonomy Regulation Technical Standards Delayed Six Months

SFDR and Taxonomy Regulation Technical Standards Delayed Six Months

Important ESG news for EU market participants: The European Commission, by letter to the EU Parliament and Council, has delayed the date of application of SFDR and Taxonomy Regulation technical standards, from 1 July 2022 to 1 January 2023. This gives financial firms six more months to prepare and submit their first ESG disclosures that must conform to templates and detailed requirements set forth in those standards. The Commission added that disclosures of “principal adverse impacts” under the technical standards, with respect to the “reference period” of calendar year 2022, must be submitted by 30 June 2023.