On 9 December 2019 the European Parliament and the Council adopted two new regulations relating to sustainable finance in the context of the European Union’s aim to strengthen the response to climate change.
Regulation (UE) 2019/2088 on sustainability-related disclosures in the financial services sector aims at establishing harmonised rules on transparency to be applied by financial market participants. In this respect they must systematically consider and integrate sustainability risks and performance into investment decision-making or advisory processes and provide investors with sustainability–related information on the financial products they offer or advise on.
Regulation (UE) 2019/2089 amending Regulation (EU) 2016/1011 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability related disclosures for benchmarks was also adopted
For further information please refer to our previously published newsflashes on bsp.lu both regulations (Sustainable Finance Insights Series – 1 and Sustainable Finance Insights Series - 2).