2025-07-10

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ESMA Final Report on the 2023-2024 Common Supervisory Action regarding sustainability risks and disclosures

ESMA and National Competent Authorities conducted a Common Supervisory Action to assess investment fund managers' compliance with the integration of sustainability risks and Sustainable Finance Disclosure Regulation requirements. The exercise identified significant vulnerabilities, including vague product-level disclosures, inadequate entity-level policies, and insufficient resources for sustainability tasks, particularly within Article 8 funds. ESMA recommends that regulators continue proactive engagement and enforcement to address these gaps and foster a consistent supervisory culture across the EU.

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Netherlands

Autoriteit Financiele Markten

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