On 2 May 2025, the European Commission (Commission) issued a call for evidence for an impact assessment on the revision of the Sustainable Finance Disclosures Regulation (SFDR).
Next steps
The deadline for responding to the call for evidence is 30 May 2025.
The call for evidence notes that stakeholders have reported
On 2 May 2025, the European Securities and Markets Authority (ESMA) issued a Consultation Paper on regulatory technical standards (RTS) under the Regulation on the transparency and integrity of Environmental, Social and Governance (ESG) rating activities.
The draft RTS cover the following aspects that apply to ESG rating providers:
On 25 April 2025, the European Banking Authority (EBA) announced the publication of an ESG dashboard.
Background
The ESG dashboard is based on information disclosed by banks as part of their Pillar 3 ESG disclosures.
It covers climate risk, both from a transition and a physical perspective.
The indicators show the spectrum of
On 16 April 2025, Directive (EU) 2025/794 of 14 April 2025 amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements was published in the Official Journal of the EU.
The Directive, which is known as the ‘Stop-the-clock’ Directive
On 15 April 2025, the European Commission (“the Commission”) launched a public consultation on a review of Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union (ETS Directive) and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission
On 15 April 2025, the European Banking Authority (EBA) published its benchmarking report on remuneration and gender pay gap for institutions and investment firms.
Background
The EBA collects remuneration and gender pay gap data from national competent authorities for benchmarking under the Capital Requirements Directive and the Investment Firms Directive (IFD)
On 14 April 2025, the Council of the EU formally adopted the ‘Stop-the-clock’ Directive under the Omnibus I package. The Directive postpones the dates of application of certain corporate sustainability reporting and due diligence requirements, as well as the transposition deadline of the due diligence provisions.
The Omnibus I package was adopted by the European
On 10 April 2025, the European Securities and Markets Authority issued a TRV risk analysis article, ‘Fund names: ESG-related changes and their impact on investment flows’. The article provides an analysis of the evolution of ESG names among EU-domiciled investment funds since 2009, including both UCITS and alternative investment funds. It also examines the
On 9 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on a Common Supervisory Action (CSA) on ESG disclosures under the Benchmarks Regulation (BMR).
The CSA was launched in December 2023 and sought to assess how benchmark administrators supervised in the EU comply with
On 7 April 2025, the European Securities and Markets Authority (ESMA) published its second consultation paper on draft technical standards under the Regulation on European Green Bonds (EuGB Regulation).
The EuGB Regulation requires ESMA to develop a series of technical standards on external reviewers. These have been developed in two packages.