Sustainability-related disclosures in the financial services sector (SFDR) and key information documents for packaged retail and insurance-based investment products (PRIIPs)
In interinstitutional negotiations (trilogues). Parliament and Council are working toward a provisional agreement, which would still need formal adoption to become law.
Last active 07 Oct 2026
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What this bill does
In plain terms: what it changes and who it affects.
This proposal simplifies EU sustainable-finance disclosures and creates three categories for financial products making sustainability claims.
It affects investors in ESG or sustainability-linked financial products, and financial firms that manufacture, manage or market those products. It also affects providers of insurance-based, pension and PRIIP investment products.
- Creates transition, ESG basics and sustainable categories for products making sustainability-related claims.
- Requires at least 70% of investments to match the claimed category strategy.
- Restricts sustainability claims in names and marketing to categorised products, with limited exceptions.
- Removes entity-level principal adverse impact and remuneration-policy disclosure requirements.
- Takes effect
- The proposal states entry into force on the twentieth day after Official Journal publication; its main application date is not provided in the supplied text.
- Transitional law
- Insurance-based investment products, pension products, pension schemes and PEPPs apply the new rules 12 months after the Regulation’s application date.
- Regulation (EU) 2019/2088 (32019R2088)
- art. 1: replaces Article 1 on subject matter
- art. 2: deletes and adds definitions, including sustainability-related products and environmental objectives
- art. 2a: deletes Article 2a
- art. 3: replaces Article 3 on sustainability risk policies
- art. 4: deletes Article 4
- art. 5: deletes Article 5
- art. 6: amends title, deletes paragraph 2 and points in paragraph 3
- art. 6a: inserts voluntary transparency rules for non-categorised products
- art. 7: replaces Article 7 with transition category criteria and disclosures
- art. 8: replaces Article 8 with ESG basics category criteria and disclosures
- art. 9: replaces Article 9 with sustainable category criteria and disclosures
- art. 9a: inserts rules for products combining categorised sustainability-related products
- art. 10: replaces Article 10 on website transparency for sustainability-related products
- art. 11: amends periodic reporting rules and deletes paragraphs 4 and 5
- art. 12: replaces Article 12 on review of disclosures
- art. 12a: inserts rules on data and estimates
- art. 13: replaces Article 13 on marketing communications and naming rules
- art. 14: amends competent authority monitoring and adds ban on additional national requirements
- art. 15: replaces Article 15 on transparency by IORPs
- art. 17: replaces Article 17 exemptions
- art. 18: replaces Article 18 reporting by ESAs
- art. 18a: amends ESAP submission requirements and legal entity identifier provisions
- art. 19: replaces Article 19 review clause
- art. 19a: inserts transitional provisions
- art. 19b: inserts Commission delegated-act empowerments
- art. 19c: inserts rules on exercise of delegation
- Regulation (EU) No 1286/2014 (32014R1286)
- art. 8: replaces point 3(c)(ii), inserts point 3(ca), deletes paragraph 4
- Commission Delegated Regulation (EU) 2022/1288 (32022R1288)
- entire act: repeals the entire delegated regulation
Latest update
07 Oct 2026The most recent development in this bill's progress.
Trilogues (interinstitutional negotiations) → Trilogues (interinstitutional negotiations)
Trilogues (interinstitutional negotiations) → Trilogues (interinstitutional negotiations)
Documents
1 recentSourcesOEILEUR-LexEU Law Tracker