On 11 February 2022, the European Securities and Markets Authority (ESMA) published its Sustainable Finance Roadmap 2022-2024.

In the Roadmap ESMA identifies three priorities for its sustainable finance work:

• Tackling greenwashing and promoting transparency. ESMA will investigate this issue, define its fundamental features and address it with coordinated action across multiple sectors.
• Building Member State competent authorities’ (NCAs) and ESMA’s capacities in the sustainable finance field. ESMA will help build its, and NCAs’, capacity on sustainable finance through a multi-year training programme and through facilitating the active sharing of supervisory experiences among NCAs. These efforts will also contribute to creating effective and consistent supervision in the area of sustainable finance.
• Monitoring, assessing and analysing ESG markets and risks. ESMA will leverage on its data-analysis capabilities to support its, and NCAs’, supervisory work and promote a convergent approach among NCAs. ESMA will undertake specific activities such as climate scenario analysis for investment funds, central counterparty stress testing and the establishment of common methodologies for climate-related risk analysis together with other public bodies.