The European Parliament has published its draft report on the Sustainable Finance Disclosure Regulation (“SFDR”) review – now being referred to as SFDR 2.0. The Report suggests a number of changes to the European...more
The European Parliament's (EP) Committee on Economic and Monetary Affairs (ECON) has published a draft report (dated 28 April) on the European Commission's proposal for a Regulation amending the Sustainable Finance Disclosure...more
The Wennink report is clear: more investment in the European defense industry is needed. But do the EU sustainable finance framework and the CSDDD pose an obstacle to this? In this article from our series on the Wennink...more
The transition finance market is evolving at a rapid pace. We are now in a position where borrowers and issuers can benefit from labelled instruments – transition loans and transition bonds are taking off, supported by...more
On 4 May 2026, the European Parliament’s Economic and Monetary Affairs Committee (“ECON”) published its draft report (the “Draft Report”) on the European Commission’s proposed overhaul of the Sustainable Finance Disclosure...more
Sustainable finance regulation and related investor expectations continue to grow. This has increased the pressure on private fund impact managers to show true alignment between financial performance and sustainability...more
At its inception, the Sustainable Finance Disclosure Regulation (SFDR) was intended to be a disclosure framework which would increase the quality and quantity of information available to investors, driving up standards and...more
The first quarter of 2026 saw a steady flow of UK and EU regulatory initiatives and updates, which are relevant to European private fund managers as well as non-European managers marketing or operating in Europe....more
Choose your words carefully because careless words cost. Never has this been more true than in disclosures about environmental, social and governance matters. As divergence between the US federal government and “red...more
Over five years ago, the European Green Deal promised to make climate neutrality Europe’s new industrial strategy. Introduced in 2019, it marked a fundamental, long-term shift in European policy priorities....more
The European Securities and Markets Authority (ESMA) published its second thematic note on sustainability-related claims (Second ESMA Note) on 14 January. The Second ESMA Note focuses on how firms describe ESG strategies in...more
The net zero transition requires investment that enables the decarbonization of the whole economy, including high-emitting and hard-to-abate sectors. The transition of those sectors has attracted especial attention from...more
It has been the case for many years that promotional materials in the EU must be “fair, clear, and not mis-leading”. However, how should managers interpret this high-level requirement when describing their approach to ESG...more
This year we expect ESG/sustainability to be influenced by several macro trends, including technology, geopolitics, and capital markets....more
On November 18, the United States Court of Appeals for the Ninth Circuit granted a partial injunction blocking enforcement of California’s climate-related financial risk disclosure law (SB 261). Inaugural reports under SB 261...more
On 20 November 2025, the European Commission (the Commission) formally published its legislative proposal to amend the Sustainable Finance Disclosure Regulation (SFDR), the PRIIPs KID Regulation and repeal the SFDR Delegated...more
The EU Commission estimates that the proposed 15% Taxonomy alignment threshold should be attainable for about half of the current investment funds disclosing under Article 9....more
On 22 November 2025, the European Commission published its long-awaited legislative proposal to ‘simplify’ the Sustainable Finance Disclosure Regulation (Draft SFDR 2.0), which will transform the existing disclosure regime...more
On November 20, 2025, the EU Commission proposed a comprehensive amendment to the Sustainable Finance Disclosure Regulation (SFDR), which has been in force since 2021. The proposal (referred to here as SFDR 2.0) addresses...more
Welcome to Proskauer’s FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
On 20 November 2025, the European Commission published a proposal to amend the SFDR. The proposal, if agreed, would repeal the existing SFDR primary and delegated regulations and would amend the Packaged Retail and...more
On November 20, 2025, the European Commission (Commission) unveiled its long-awaited proposal to overhaul the Sustainable Finance Disclosure Regulation (SFDR). This marks a decisive shift from a complex disclosure regime to a...more
The long-awaited SFDR 2.0 has finally been published by the European Commission. It proposes a significant reset of the EU’s sustainable finance disclosure framework, reshaping the current disclosure regime into a product...more
In our alert The Seeds for SFDR II? Two EU Commission Consultations, we discussed the September 2023 consultations in which the European Commission published the review of the Sustainable Finance Disclosure Regulation (SFDR)....more
On 20 November 2025, the European Commission officially launched their legislative proposal (“Proposal”) for the updates to the Sustainable Finance Disclosure Regulation (“SFDR”). In a significant departure from the current...more