The notes aim at setting out factual information regarding these concepts and providing helpful aide to stakeholders to navigate and better understand the Sustainable Finance legislative framework. These documents are purely descriptive. They are not intended to replace relevant legal texts nor to provide guidance on the application of relevant provisions.
ESMA has issued its annual European Common Enforcement Priorities (ECEP) Statement for 2023, which sets out the expectations of ESMA and NCAs with regards to specific areas of focus for the enforcement of the annual financial reports of issuers, including financial and sustainability reporting, European Single Electronic Format (ESEF) reporting and alternative performance measures (APMs). In particular, for this year’s ECEP, the areas for attention identified focus on cross-cutting topics, such as climate and environmental-related matters and macroeconomic environment.
Given the importance of climate and environmental-related matters for financial market participants (in particular issuers and investors), ESMA has published, together with the 2023 ECEP a fact-finding exercise addressing the implementation of the Taxonomy Regulation and a report on disclosures of climate matters in IFRS Financial statements. The three documents are accessible below:
ESMA believes that these documents will greatly assist issuers, supervisory bodies and auditors in the process of improving disclosures regarding climate and environmental-related matters, as well as investors in better understanding them.
