On 23 June 2025, the Council of the European Union (“Council”) endorsed its negotiating mandate on the European Commission’s Omnibus I proposal, which aims to streamline the Corporate Sustainability Reporting Directive ((EU) 2022/2464) (“CSRD”) and the Corporate Sustainability Due Diligence Directive ((EU) 2024/1760) (“CSDDD”). This initiative forms part of a broader EU strategy to reduce regulatory complexity and enhance
ESG
Crack the Code: A guide to the UK Stewardship Code 2026
By John Verwey, Rachel Lowe, Michael Singh & Sulaiman Malik on
On 3 June 2025, the Financial Reporting Council (“FRC”) published its new UK Stewardship Code 2026 (the “Code”). The voluntary Code applies to asset managers, asset owners and services providers with the aim of providing greater transparency on reporting in respect of the stewardship roles undertaken on behalf of clients and…
Beyond the Forest: Navigating the EU’s Deforestation Rules
By John Verwey, Rachel Lowe, Michael Singh & Sulaiman Malik on
On 15 April 2025, the European Commission (the “Commission”) released new simplification measures relating to the EU Deforestation Regulation (“EUDR”) with the promise of ensuring a “simple, fair and cost-efficient implementation”. This is part of the Commission’s broader agenda for economic competitiveness and to reduce reporting burdens on businesses.
We recap…
Final opportunity to shape SFDR’s future in European Commission’s Call for Evidence
By Rachel Lowe, John Verwey, Michael Singh & Sulaiman Malik on
On 2 May 2025, the European Commission launched its ‘Call for Evidence’ on the review of the Sustainable Finance Disclosure Regulation (SFDR).
The European Commission aims to review the SFDR to simplify the framework, enhance usability, and prevent greenwashing. Stakeholders are invited to submit general feedback rather than answer specific questions…
EU Regulators Take Different Enforcement Paths for ESMA ESG Fund Name Guidelines
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
European regulators have taken different routes as to how they plan to enforce the European Securities and Markets Authority’s (“ESMA”) guidelines (the “Guidelines”) with respect to the use of sustainability‑related terms in fund names. The deadline to implement these changes for existing funds is by 21 May 2025 and has applied to…
CSRD’s ESRS Draft Work Plan Faces Rejection At Latest EFRAG Meeting
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 15 April 2025, the sustainability reporting board (“SRB”) of the European Financial Reporting Advisory Group (“EFRAG”) failed to agree to an internal timeline for delivering advice to the European Commission on the simplification of the European Sustainability Reporting Standards (“ESRS”), which is at the centre of the Corporate Sustainability…
AIFMD 2.0 – Draft RTS and Final Guidelines Published on Liquidity Management Tools
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 15 April 2025, the European Securities and Markets Authority (“ESMA”) published draft regulatory technical standards (the “Draft RTS”) and final guidelines (the “Guidelines”) on Liquidity Management Tools (“LMTs”), as required under the revised Alternative Investment Fund Managers Directive (EU/2024/927) (“AIFMD 2.0”).
Under AIFMD 2.0…
Sustainability-Related Governance, Incentives and Competence – FCA Confirms No New Rules for Now
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
Background
In February 2023, the United Kingdom Financial Conduct Authority (“FCA”) published a discussion paper (DP23/1) to encourage an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence (the “Discussion Paper”).
On 2 April 2025, the FCA published a summary of the feedback received on the Discussion Paper, as well as…
Final Approval for Simplification – Council of the European Union Formally Approves to “Stop-the-Clock” on Sustainability Reporting and Diligence Requirements
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 14 April 2025, the Council of the European Union (the “Council”) has given the greenlight for the “Stop-the-clock” proposal, which will postpone the application of sustainability reporting and diligence requirements. This marks the final approval for delaying the application of the Corporate Sustainability Reporting Directive (“CSRD”) and Corporate…
Have your say on CSRD: EFRAG Launches Public Call for Input on Revisions to ESRS
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
The European Financial Reporting Advisory Group (EFRAG) has launched a public call for input (Call for Input) on 9 April 2025, seeking feedback from stakeholders and, in particular, from the first wave of preparers who applied the European Sustainability Reporting Standards (ESRS) in their 2024 Corporate Sustainability Reporting Directive…