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No. 1023/2024

30 August 2024

RULES

on sustainability-related disclosures in the financial services sector.

Article 1 Scope.

These Rules apply to financial market participants and financial advisers, cf. the first paragraph of Article 1 of Act No. 25/2023 on sustainability-related disclosures in the financial services sector and a classification system for sustainable investments. Furthermore, the provisions of Articles 4-10 and Article 12 of Commission Delegated Regulation (EU) 2022/1288 apply to pension funds offering a minimum insurance protection within the meaning of the Act on Mandatory Insurance of Pension Rights and the Activities of Pension Funds when they publish information pursuant to Articles 3-5 of Regulation (EU) 2019/2088, cf. the second sentence of the first paragraph of Article 1 of Act No. 25/2023.

Article 2 Implementation of regulations.

With these Rules, the following Commission regulations (EU) enter into force in Iceland:

• Commission Delegated Regulation (EU) 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 of the European Parliament and of the Council with regard to regulatory technical standards specifying the details of the content and presentation of the information in relation to the principle of 'do no significant harm', specifying the content, methodologies and presentation of information in relation to sustainability indicators and adverse sustainability impacts, and the content and presentation of the information in relation to the promotion of environmental or social characteristics and sustainable investment objectives in pre-contractual documents, on websites and in periodic reports, cf. corrections in the Official Journal of the EU L 332, 27 December 2022, p. 1, which was incorporated into the EEA Agreement by Decision of the EEA Joint Committee No. 325/2023 of 8 December 2023. The Regulation is published in the EEA Supplement to the Official Journal of the EU No. 58 of 1 August 2024, p. 128.

• Commission Delegated Regulation (EU) 2023/363 of 31 October 2022 amending and correcting the regulatory technical standards laid down in Delegated Regulation (EU) 2022/1288 as regards the content and presentation of information in relation to disclosures in pre-contractual documents and periodic reports for financial products investing in environmentally sustainable economic activities, which was incorporated into the EEA Agreement by Decision of the EEA Joint Committee No. 325/2023 of 8 December 2023. The Regulation is published in the EEA Supplement to the Official Journal of the EU No. 58 of 1 August 2024, p. 200.

Article 3 Entry into force.

These Rules, which are issued with the authority of the second paragraph of Article 8 of Act No. 25/2023 on sustainability-related disclosures in the financial services sector and a classification system for sustainable investments, enter into force on 1 December 2024.

Central Bank of Iceland, 30 August 2024.

	Ásgeir Jónsson Governor.	Rannveig Júníusdóttir Managing Director.

Section B - Publication: 13 September 2024