Regulatory Alerts2020-04-29
ESMA Opinion on Sustainability-Related Disclosure Requirements for Benchmarks
The European Securities and Markets Authority issued this Opinion to the European Commission regarding the legal uncertainty caused by the absence of delegated acts supplementing ESG disclosure requirements in Regulation (EU) 2016/1011. ESMA argues that without these acts specifying minimum content and standard formats, benchmark administrators cannot adequately determine how to reflect environmental, social, and governance factors, leading to incomparable data and fragmented compliance. Consequently, ESMA urges the Commission to adopt the delegated acts without delay to ensure technical feasibility, legal clarity, and effective supervision by competent authorities.
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