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.
