{"id":13202,"date":"2023-07-11T15:18:54","date_gmt":"2023-07-11T15:18:54","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=13202"},"modified":"2023-07-11T15:18:56","modified_gmt":"2023-07-11T15:18:56","slug":"eu-markets-regulator-announces-expectations-for-sustainability-disclosure-in-prospectuses","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/eu-markets-regulator-announces-expectations-for-sustainability-disclosure-in-prospectuses\/","title":{"rendered":"EU Markets Regulator Announces Expectations for Sustainability Disclosure in Prospectuses"},"content":{"rendered":"<!--themify_builder_content-->\n<div id=\"themify_builder_content-13202\" data-postid=\"13202\" class=\"themify_builder_content themify_builder_content-13202 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n\n\n<p>EU markets regulator the European Securities and Markets Authority (ESMA) announced today the publication of its expectations for sustainability-related disclosures in equity and non-equity prospectuses.<\/p>\n\n\n\n<p>The regulator said that the guidance is aimed at supporting investors\u2019 ability to make informed investment decisions, providing issuers with an understanding of disclosures regulators will expect them to provide, and ensuring a coordinated approach towards scrutinizing sustainability-related disclosures by national competent authorities (national-level regulatory authorities, or NCAs).<\/p>\n\n\n\n<p>Among the guidelines included in ESMA\u2019s statement is an expectation for issuers to provide the basis for any statements concerning their sustainability profile, such as referring to underlying data or assumptions, detailing specific market standards or labels, or referencing third party research or analysis.<\/p>\n\n\n\n<p>For equity prospectuses, the statement expects inclusion of reporting in accordance with the Non-Financial Reporting Directive (NFRD), the current EU sustainability reporting framework, or its upcoming update, the <a href=\"https:\/\/www.esgtoday.com\/eu-commission-eases-sustainability-reporting-rules\/\">Corporate Sustainable Reporting Directive (CSRD)<\/a>, to the extent that the disclosures are material.<\/p>\n\n\n\n<p>The statement also includes guidance for prospectuses for \u201cuse of proceeds\u201d bonds and sustainability-linked bonds. For bonds such as green, social and sustainability bonds, ESMA said that prospectuses should include disclosure regarding the use of proceeds, along with information enabling investors to assess the ambition underlying project evaluation and selection. Information to be provided in prospectuses for sustainability-linked bonds includes details about selected key performance indicators (KPIs) and sustainability performance targets (SPTs), as well as information enabling assessment of the consistency of KPIs and SPTs with relevant science-based targets and the issuer\u2019s sustainability strategy.<\/p>\n\n\n\n<p>ESMA also noted that it has observed \u201cthat some issuers include sustainability-related disclosure in their advertisements that is not included in their prospectus,\u201d and that this information should be included in prospectuses if material, adding that \u201cthe importance of the sustainability-related disclosure in the advertisement for investors is an indicator of its materiality.\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.esma.europa.eu\/press-news\/esma-news\/esma-provides-insights-expected-sustainability-disclosures-prospectuses\">Click here<\/a> to access ESMA\u2019s statement.<\/p><span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>EU markets regulator the European Securities and Markets Authority (ESMA) announced today the publication of its expectations for sustainability-related disclosures in equity and non-equity prospectuses. The regulator said that the guidance is aimed at supporting investors\u2019 ability to make informed investment decisions, providing issuers with an understanding of disclosures regulators will expect them to provide, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":13203,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[37,17],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU Markets Regulator Announces Expectations for Sustainability Disclosure in Prospectuses - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/eu-markets-regulator-announces-expectations-for-sustainability-disclosure-in-prospectuses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU Markets Regulator Announces Expectations for Sustainability Disclosure in Prospectuses - ESG Today\" \/>\n<meta property=\"og:description\" content=\"EU markets regulator the European Securities and Markets Authority (ESMA) announced today the publication of its expectations for sustainability-related disclosures in equity and non-equity prospectuses. 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