New requirements for financial market participants

On a pathway towards low-carbon and climate-resilient financial market

New EU regulation on sustainability-related disclosures and implementing the European Commission’s action plan for financing sustainable growth will start mainly applying as of 10 March 2020. The new requirements are imposed by the “Disclosure Regulation” (2019/2088/EU) and the “Taxonomy Regulation” (2020/852/EU). These acts also cause certain amendments in the national acts.

Main points to note: 

• The acts apply to wide range of financial market participants.
• The acts lay down comprehensive disclosure requirements on investment products provided or promoted by a financial market participant.
• The aim of the legislation is to align financial flows with a pathway towards low-carbon and climate-resilient development and for making Europe the first climate neutral continent by 2050. 

Read the whole NewsFlash here.