Since its launch in 2018, the EU Action Plan on Sustainable Finance has inspired financial regulators all over the globe to pursue similar regulatory action.
The EU Sustainability Taxonomy Regulation ( Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment ) has impacted not only financial institutions, but also large companies as it introduced amendments to the EU Non-Financial Reporting Directive (NFRD)
Moreover, The European Green Deal (COM(2019) 640 final) put into legislation the political ambition of being the world’ s first climate neutral continent by 2050.
Do you know what needs to be done?
As a consequence of this intense regulatory movement, what was deemed to be best practice yesterday—such as the integration of sustainability issues into investment decision- making processes—has now become the baseline regulatory expectation for access to the market.