EFAMA calls for SFDR transition period
Earlier this week, EFAMA published an Executive Summary of their response to the European Supervisory Authorities’ recent consultation on proposals to incorporate additional Taxonomy Regulation indicators into their previous level-2 technical standards for the SFDR.
The European Fund and Asset Management Association (EFAMA) is the voice of the European investment management industry, representing almost €30 trillion of total net assets across the continent (with Kneip included among their members).
This week, EFAMA published an Executive Summary of their response to the European Supervisory Authorities’ recent consultation on proposals to incorporate additional Taxonomy Regulation (TR) indicators into their previous level-2 technical standards for the Sustainable Finance Disclosure Regulation (SFDR).
These comprehensive measures are currently scheduled to apply from 01 January 2022.
However, highlighting “inconsistent reporting standards”, “concerns over the cost of data” and scarce time now available, EFAMA now propose a “best-effort, transitional implementation during 2022” to enable a more reliable alignment, “limit the amount of paperwork” and “provide more clarity for end-investors”.
EFAMA’s announcement has received notable recent media coverage, including Funds Europe and Investment Week.
All industry eyes are now focused on the European Commission for their final SFDR / TR decision.
More to follow – keep watching this space.
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