News News Flash – ESG - Sustainable finance package 06/05/2021

The European Commission adopted on 21st April 2021 a Sustainable Finance package of measures to help improve the flow of money towards sustainable activities across the European Union.

This package consists of: the Taxonomy Climate Delegated Act; the Proposal for a Corporate Sustainability Reporting Directive; six amending Delegated Acts on fiduciary duties, investment and insurance advice that will ensure financial firms, or insurers include sustainability in their procedures, amongst others.

The EU Taxonomy Climate Delegated Act develops technical aspects regarding the application of the Taxonomy Regulation adopted in 2020. The remaining proposals aim to develop a legal framework regarding the sustainability of business models and to allow comparability of information on sustainability published by companies.

To learn more, you can access our News Flash here.