Regulatory Standards on European ESG Financial Services Regulation Deferred to 1 January 2023

The application of the regulatory technical standards (RTS) on ESG disclosure regulation has been further deferred to January 1, 2023.

On July 8, 2021, the European Commission announced that all RTS relating to the disclosure regulation would apply from July 1, 2021, onwards. On November 25, 2021, the European Commission announced that those provisions would now come into force on January 1, 2023. The European Commission also clarified that disclosure requirements under the Art. 4 Disclosure Regulation (if applicable), on principal adverse impacts (PAI) will not need to be complied with until June 30, 2023. The first reference period under the regulatory technical standards will be January 1, 2022, to December 31, 2022.

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