Following the submission of draft RTS for the SFDR (Sustainable Finance Disclosure Regulation) by EBA, EIOPA and ESMA (jointly), the European Commission had 3 months to approve and adopt the text. But the complexity and length of the RTS mean that the EC won’t be able to respect the deadline. Additionally, the EC wants to “bundle” a number of RTS into a single EU Act.
As a result, the application date of the Delegated Act has been postponed to 1st January 2023, which means first compulsory disclosures will be expected before 30th June 2023 based on the calendar year 2022.
EC letter to EU Parliament & Council: https://www.esma.europa.eu/sites/default/files/library/com_letter_to_ep_and_council_sfdr_rts-j.berrigan.pdf
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