SFDR (Sustainable Finance Disclosure Regulation)

    ESG & Governance

    The EU rules on sustainability disclosures by fund managers and other financial market participants.

    The SFDR has applied since March 2021. Funds are commonly grouped by the article they disclose under: Article 6 (no sustainability claim), Article 8 (promotes environmental or social characteristics) and Article 9 (sustainable investment objective). In November 2025, the European Commission proposed replacing Articles 8 and 9 with three categories (Transition, ESG Basics and Sustainable), each needing at least 70% of investments to qualify. The proposal needed approval by the European Parliament and Council.

    Related terms

    EU TaxonomyCSRD (Corporate Sustainability Reporting Directive)ESG fund

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