MEPs vote for clearer, simpler sustainable finance disclosure rules

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The lead MEP Gerben-Jan Gerbrandy (Renew, NL), said: "We have reached a broad compromise, and I am very glad to have been able to facilitate this.

The proposed SFDR reform exemplifies how simplification of legislation should work.

With this goal in mind, the reforms made it possible to reach a broad majority.

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The useful part

The lead MEP Gerben-Jan Gerbrandy (Renew, NL), said: "We have reached a broad compromise, and I am very glad to have been able to facilitate this. The proposed SFDR reform exemplifies how simplification of legislation should work. The goal remains intact, but the means are far more effective for consumers and more efficient for businesses: more clarity on how sustainability can be claimed, and a lot less paperwork.

How it works

With this goal in mind, the reforms made it possible to reach a broad majority.
From now on, people who choose a sustainable financial product can be certain that their money is actually contributing to a greener economy." The text was adopted with 37 to 9 and 4 abstentions.
The negotiating mandate will be announced at the start of the October plenary session.
The final legislation will have to be negotiated with the Council before coming into force.

Details worth keeping

Our previous blog on the Council negotiating position can be found here.

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