SFDR: The ESAS have listened, but their hands are tied

Decoding SFDR: Analyzing ESAs' Final Report and Draft RTS

On 4 February 2021, the European Supervisory Authorities (ESAs) published their Final Report on the draft Sustainable Finance Disclosure Regulation (SFDR) Regulatory Technical Standards (RTS). In this white paper we discuss the main differences between the April 2020 Consultation Paper and the draft RTS which will be presented to the Commission in the coming months. We also highlight several outstanding "pains" of the SFDR and its RTS.