The AMF publishes, in a position paper, the key principles it believes should guide the SFDR review
The AMF contributed, at the end of last year, to the consultation launched by the European Commission on the Sustainable finance disclosure regulation (SFDR). It publishes today a position paper outlining the key principles it believes should guide the SFDR review.
Back in 2018-2019, EU co-legislators and the European Commission designed the Sustainable Finance Disclosure Regulation (SFDR) as a non-financial disclosure regime applying to financial entities and products. However, it has been used in practice as a labelling regime by market participants, confusing investors.
Thus, the AMF welcomes the Commission’s stated intention to undertake a review of SFDR and calls for a thorough recast of the Regulation.
For the AMF, the new framework should provide clarity in terms of product categorisation, and thus include product categories based on objective minimum criteria.
Conversely, the review of the text should preserve a wide range for disclosures, seeking simplification wherever possible to focus on relevant disclosures for investors and taking into account other developments in the sustainable finance agenda.
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