On 14 May 2024, the European securities regulator ESMA published its long-awaited "Guidelines on funds' names using ESG or sustainability-related terms". EU fund managers and managers of funds marketed into the EU will need to comply with minimum sustainability requirements when using such terms. Following the publication of translations of the Guidelines in all EU languages on 21 August 2024, the Guidelines apply for new funds from 21 November 2024 and existing funds from 21 May 2025.
National regulators had time until 21 October 2024 to declare whether they comply with the Guidelines. Information on this "comply or explain" procedure and the statements already provided by national regulators is available in this blog post.
On 13 December 2024, ESMA has published further guidance on the interpretation of certain provisions in the Guidelines. We have updated our briefing on the Guidelines integrating the guidance to provide the industry with a full picture on the current status.
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