Greenwashing: ESMA's approach to supervising asset managers
The European Securities and Markets Authority (ESMA) has published its Final Report on Greenwashing (Final Report).
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Travers Smith's Sustainability Insights: Fund names and sustainability
A regular briefing for the alternative asset management industry.
ESMA Guidelines on Fund Names
The European Securities and Markets Authority (ESMA) has published its final guidelines on fund names using ESG or sustainability-related terms (Guidelines). The Guidelines are primarily motivated the ESMA's desire to combat greenwashing and are intended to specify the circumstances where the fund names using ESG or sustainability related terms are unfair, unclear or misleading.
Change of law: VAT treatment of voluntary carbon credits
HMRC have published a Revenue & Customs brief outlining a change in the VAT treatment of voluntary carbon credits (VCCs).
EU SFDR review: Summary of industry views
The European Commission has published a Summary Report summarising the responses to its September 2023 consultations on the Sustainable Finance Disclosure Regulation (SFDR).
SDR and investment labels: extension of the regime to UK portfolio managers
Travers Smith's Sustainability Insights: The UK's anti-greenwashing rule
A regular briefing for the alternative asset management industry.
SDR: Finalised guidance on the anti-greenwashing rule
Introduction
On 23 April 2024, the FCA published FG24/3, its finalised non-handbook guidance on the new "anti-greenwashing rule" which was introduced as part of the package of measures establishing the Sustainability Disclosure Requirements (SDR) regime (which we covered here). The guidance, like the rule itself, will apply from 31 May 2024 – in just over a month's time.