On 17 February 2023, Commission Delegated Regulation (EU) 2023/363 (“Delegated Regulation”) was published.

The Delegated Regulation amends the regulatory technical standards (“RTS”) laid down in Delegated Regulation (EU) 2022/1288 (“SFDR RTS”), which supplements the Sustainable Finance Disclosure Regulation ((EU) 2019/2088) (“SFDR”) and came into force on 1 January 2023.

The amendments relate to the content and presentation of information in relation to disclosures in pre-contractual documents and periodic reports for financial products investing in environmentally sustainable economic activities resulting in revised mandatory disclosure templates that fund manager have to use moving forward.

Among other things, the Delegated Regulation incorporates nuclear and gas disclosures into the SFDR RTS. Fund manager will now have to disclose to investors whether a fund will invest in fossil gas and/or nuclear energy related activities that comply with the Regulation on the establishment of a framework to facilitate sustainable investment ((EU) 2020/852) (“EU Taxonomy”).

The Delegated Regulation has entered into force on 20 February 2023 and there are no transitional or grandfathering provisions. Fund managers are therefore expected to use the revised disclosure templates as of this date.

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