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ESMA provides insights into the expected sustainability disclosures in prospectuses

Anticipated ESG disclosures in prospectuses



ESMA underscores the significance of an issuer's non-financial reporting in accordance with the Non-Financial Reporting Directive and forthcoming sustainability reporting in compliance with the Corporate Sustainability Reporting Directive, particularly considering that such disclosures could be material within the framework of the PR and incorporated into an issuer's prospectus.


Furthermore, concerning non-equity securities marketed as incorporating a specific ESG element or aligning with ESG goals, the statement provides clarification on the disclosure obligations related to 'use of proceeds' bonds and 'sustainability-linked' bonds.


The Public Statement also points out instances where sustainability-related disclosures are found in advertisements but not in the prospectuses themselves, emphasizing that such disclosures should be included in prospectuses if they are considered material under the PR.

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