Sustainability-related disclosures (SFDR)

Regulation (EU) 2019/2088 on sustainability-related disclosures (SFDR) is a pillar of the EU sustainable finance agenda. SFDR aims to increase the transparency of financial market participants towards end-investors and contribute to the objective of fighting greenwashing. It lays down sustainability disclosure obligations on the environmental and social impact of an entity’s investment decisions, and requirements on how to present the characteristics of green investment products.

To ensure this new set of rules successfully delivers on its objectives, EFAMA contributes to developing the regulation, as well as assisting members’ implementation efforts. We voice any concerns around the timelines for applying rules, implementation challenges and interpretation issues. Additionally, we provide the industry’s informed views on current risk management frameworks and practices concerning the disclosure of information to end-investors.

Related policy positions

Topic

year

Keywords

Policy Position

Sustainability-related Disclosures (SFDR)

21 December 2023

Key messages on the Implementation of SFDR

The Sustainable Finance Disclosure Regulation (SFDR) has promoted transparency in sustainable finance, however its use by market participants as a de facto ESG labelling regime has stretched it beyond its original intentions and not always been helpful. The current European Commission review needs to address how SFDR can provide clearer, more meaningful information for retail investors, promote transition finance, and align well with other relevant legislation.

Policy position

Distribution ＆ Client Disclosures

Sustainability-related Disclosures (SFDR)

15 September 2023

ESMA’s call for evidence on the integration of ESG preferences on suitability and product governance arrangements

Policy Position

A handful of coins holding a miniature tree against a green background

Sustainability-related Disclosures (SFDR)

05 July 2023

ESMA Review of SFDR Delegated Regulation regarding PAI and financial product disclosures

EFAMA has responded to the European Supervisory Authorities' (ESAs) joint consultation setting out various regulatory technical standards (RTS) for the Sustainable Finance Disclosure Regulation (SFDR). They propose new sustainability indicators in relation to principle adverse impacts (PAIs) and additional disclosures to the ‘do no significant harm’ principle, as well as some other modifications.

New SFDR proposal moves Europe towards a more coherent sustainable finance regulatory framework

Yesterday, the European Commission released its proposal to adjust the Sustainable Finance Disclosure Regulation (SFDR), which addresses several persistent challenges and represents an important step towards a more coherent, effective and user-friendly EU sustainable finance framework.

Press Release

Sustainability-related Disclosures (SFDR)

03 June 2025

Smarter sustainable finance disclosures should be investor-friendly, focused, pragmatic and aligned with corporate reporting

EFAMA publishes recommendations for the SFDR review

Policy Position

Sustainability-related Disclosures (SFDR)

02 June 2025

EFAMA’S views on the upcoming Level 1 Review of the Sustainable Finance Disclosure Regulation (SDFR REVIEW)

all news

Related publications

Topic

year

Keywords

Publication

Data

Sustainable Finance

EU Taxonomy

Sustainability-related Disclosures (SFDR)

18 November 2020

EFAMA Market Insights | Issue# 3 | Sustainable Investment in the European Asset Management Industry

For this Market Insights, EFAMA collaborated with its member associations and strategy consultants at INDEFI to estimate the level and nature of ESG investment by European asset managers at the end of 2019, distinguishing between the ESG strategies applied at the firm level and those applied at the level of individual fund and discretionary mandate. The assets under management covered in the report include EUR 12.5 trillion of investment fund assets and EUR 11.4 trillion of mandate assets.*

Publication

Sustainable Finance

Ecolabel

EU Taxonomy

Sustainability-related Disclosures (SFDR)

Sustainability reporting (CSRD)

20 May 2020

3 questions to Thierry Bogaty on the EU Ecolabel for retail financial products

Q #1 Can the EU Ecolabel for retail financial products help channel individual investors’ savings into environmentally sustainable projects?

A well-designed EU Ecolabel has the potential to provide clear guidance on the financial products retail investors can invest in if they wish to support environmentally sustainable projects and activities - in line with the EU Taxonomy Regulation. The European Commission wants to create a trusted and verified label for retail investors, who would benefit from better comparability of financial products.