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Eumedion calls on the European Supervisory Authorities to - for now - limit the amount of changes to the reporting requirements under the Sustainable Finance Disclosure Regulation (SFDR), as shows the consultation response to the ‘Joint Consultation Paper on the Review of SFDR Delegated Regulation regarding PAI and financial product disclosures’, published today.

While Eumedion strongly agrees with various proposed indicators, such as the one targeting accumulated earnings in non-cooperative tax jurisdictions, Eumedion above all indicates the need for a comprehensive, joint evaluation of the reporting requirements under the upcoming European Sustainability Reporting Standards and the SFDR requirements. As they stand, there is a real risk of negative impact on the quality and decision-usefulness of both these disclosure initiatives, caused among others by a difference in reporting principles. Eumedion cautions against a one-sided adjustment to the SFDR framework as an insufficient means to address these underlying issues. In due time, a comprehensive review should also address the insufficient inclusion of governance factors in the various European sustainable finance initiatives. Finally, Eumedion also points out that the availability of data is an on-going issue.