Joint ESA consultation on ESG disclosures

Joint ESA consultation on ESG disclosures

from 23 April 2020 to 01 September 2020


The European Supervisory Authorities (ESAs) welcome comments on this consultation paper setting out the proposed Regulatory Technical Standards (RTS) on content, methodologies and presentation of disclosures under the Sustainable Finance Disclosure Regulation (SFDR).

The ESAs invite comments on any aspect of this paper. Comments are most helpful if they:

·       indicate the specific point to which a comment relates; 

·       contain a clear rationale; 

·       provide evidence to support the views expressed/rationale proposed; and

·       describe any alternative regulatory choices that the ESAs should consider.


The ESAs also invite specific comments on the questions on the draft RTS as listed in Section 4, and any input on the preliminary impact assessment in Section 5. 

To facilitate the responses, the ESAs have made available Annex 1 - Template principal adverse impacts statement in word format. 

Submission of responses

The consultation paper is available on the websites of the three ESAs. Comments on this consultation paper should be sent using the response form, via the ESMA website under the heading ‘Your input/Consultations’  Please send your comments in the provided response form by  1 September 2020.

Contributions not provided in the response form or after the deadline will not be processed. 

Publication of responses

All contributions received will be published following the close of the consultation, unless you request otherwise in the respective field in the template for comments. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESAs rules on public access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESAs Board of Appeal and the European Ombudsman.

Documents available for this Consultation
23/04/2020JC 2020 16Joint ESA consultation on ESG disclosures
04/05/2020JC 2020 16 Annex 1Joint ESA consultation on ESG disclosures - Annex 1
23/04/2020ESMA34-45-904Joint ESA consultation on ESG disclosures - response form
23/04/2020JC 2020 41ESAs consult on Environmental, Social and Governance disclosure rules


Activity Institution Download
U.S. Chamber of Commerce, Center for Capital Markets Competitiveness
CDP Worldwide (Europe) gGmbH
Asset Management Standard Life Aberdeen
Asset Management International Capital Market Association
Asset Management Mirova
Asset Management ICI Global
Asset Management First State Investments
Asset Management Bundesverband Alternative Investments e.V. (BAI)
Asset Management Invest Europe
Asset Management The international business of Federated Hermes
Asset Management Capital Group
Asset Management Vanguard Asset Management Limited
Asset Management Legal & General Investment Management
Asset Management Amundi Asset Management
Asset Management European Fund and Asset Management Association (EFAMA)
Asset Management AFG - Association Française de la Gestion financière
Asset Management Assogestioni
Asset Management DUFAS (Dutch Fund and Asset Management Association)
Asset Management Invesco
Asset Management California State Teachers' Retirement System (CalSTRS)
Asset Management Austrian Association of Investment Fund Management Companies (VÖIG)
Asset Management The Investment Association
Asset Management Schroders
Asset Management BNP Paribas Asset Management
Asset Management BNP Paribas Asset Management
Asset Management State Street Global Advisors
Asset Management Swedish Investment Fund Association
Asset Management European Fund and Asset Management Association (EFAMA)
Asset Management M&G plc
suggested_pais.xlsx (235.81 KB)
Asset Management BVI
Asset Management M&G plc
Asset Management ASPIM
Asset Management Amundi Asset Management
Asset Management SIFMA AMG
Asset Management Candriam
Asset Management Alternative Investment Management Association and Managed Funds Association
Banking German Banking Industry Committee
Banking Deutscher Derivate Verband
Banking Fédération Bancaire Française
Banking Febelfin vzw/asbl, Belgian Financial Sector Federation
Banking Austrian Federal Economic Chamber, Division Bank and Insurance
Banking Dutch Banking Association (NVB)
Banking ESBG
Banking European Banking Federation
Banking UK Finance
Banking EUSIPA European Structured Investment Products Association
Banking Italian Banking Association
Banking UK Finance
Banking European Association of Cooperative Banks
Banking Związek Banków Polskicn
Credit Rating Agencies DBRS Morningstar
Government, Regulatory and Enforcement Office of Environment
Government, Regulatory and Enforcement Global Legal Entity Identifier Foundation (GLEIF)
Government, Regulatory and Enforcement Central Bank of Iceland
Government, Regulatory and Enforcement Deutsches Rechungslegungs Standards Committee
Individuals Independent
Insurance and Pension European Association of Paritarian Institutions- AEIP
Insurance and Pension PensionsEurope
Insurance and Pension PensioPlus
Insurance and Pension Actuarial Association of Europe
Insurance and Pension Polish Chamber of Insurance
Insurance and Pension Dutch Federation of Pension Funds
Insurance and Pension Investment & Life Assurance Group
Insurance and Pension Insurance Europe
Insurance and Pension Assuralia
Insurance and Pension Eumedion
Insurance and Pension Allianz SE
Insurance and Pension GDV
Insurance and Pension INREV - European Association for Investors in Non-Listed Real Estate Vehicles
Insurance and Pension European Federation of Financial Advisers and Financial Intermediaries (FECIF)
Investment Services Morningstar
Investment Services Swedish Securities Markets Association
Investment Services Verband unabhängiger Vermögensverwalter
Investment Services Irish Funds Industry Association
Legal and Accountancy Centre for Housing law, Rights and Policy. Law School, National University of Ireland Galway.
Legal and Accountancy Eversheds Sutherland (International) LLP
Regulated markets IOGP - International Association of Oil & Gas Producers
Others RWE
Others BIPAR
Others Sustainable Finance Committee to the German government
Others MSCI Ltd.
Others Fundación ONCE
Others UNI Europa Finance
Others Business & Science Poland (BSP)
Others MEDEF
Others Zentraler Immobilien Ausschuss (ZIA) e.V.
Others Association of Real Estate Funds
Others NFU - Nordic Financial Unions
Others Sila Advisory - Business and Human Rights
Others Bloomberg L.P.
Others Swiss Sustainable Finance
Others Index Industry Association - IIA
Others Afep
Others ISDA
Others CFA Institute
Others Much-Net GmbH
Others FPSB Europe
Others Global Witness
Others IHS Markit
Others 2° Investing Initiative
Others Climate Disclosure Standards Board
Others Global Witness
Others Environment Agency Austria (Umweltbundesamt)
Others ALFI (Association of the Luxembourg Fund Industry)
Others Finance Denmark
Others WWF European Policy Office
Others European DataWarehouse GmbH
Others Global Witness
Others ACV Puls
Others PCAF
Others Finance Finland
Others GasNaturally
Others Danish Institute for Human Rights
Others Department of Social Insurance (Warsaw School of Economics)
Others FuelsEurope
Others Global Reporting Initiative
Others ShareAction
Others Deutsches Aktieninstitut e.V.
Others PIMFA
Others Investment Property Forum
Others Moody's ESG Solutions/ Vigeo Eiris/ Four Twenty Seven
Others Financial Markets Law Committee
Insurance, pension & asset management Principles for Responsible Investment (PRI)
Government regulatory & enforcement Advisory Committe of the Spanish National Securities Markets Commission (CNMV)
Trade Repository TISA
Trade Repository TISA
Trade Repository TISA