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The introduction of an ESG fund labeling framework could considerably alter this structure, impacting sectors that are controversial or high-emitting. Mairead McGuinness, the EU’s commissioner for financial markets and services, has expressed her intention to evaluate if SFDR is “fit for purpose.” Studies conducted by Goldman Sachs highlight the influence of SFDR categories on client flows.
The EU has initiated a comprehensive consultation process with a deadline set for December 15, 2023. This process aims to address investor concerns about greenwashing, the need for reclassifications, and potential misuse of SFDR as a labeling system.
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