EU carbon rules / Industry dossiers / Financial services
NACE K64–K66 5 duties 5 related regulations
Financial services
Selling financial products or managing funds in the EU requires SFDR sustainability-risk disclosure; ESG claims are bound by Articles 8/9 and cross-referenced with the CSRD and the EU Taxonomy.
Reference only: this dossier is public compliance research, not legal advice, and draws no compliance conclusion. Whether a duty applies depends on product classification (CN code), role (importer, EU producer, downstream purchaser), cumulative volumes and Member State application; rely on the legal text and the competent authority.
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Duties
CCarbon: pricing, accounting, reporting, targets EEnvironment: pollution, waste, ecosystems, product attributes
| Duty | Trigger | Evidence needed | Timing | Legal source |
|---|---|---|---|---|
| Carbon Product-level sustainability disclosure (SFDR Article 6) Disclose sustainability risks and their impact on returns in prospectuses and periodic reports. | Selling financial products to EU investors, or providing investment/insurance advice | Sustainability risk disclosures in product documents and periodic reports; website information | Ongoing from 2021-03-10 | Reg (EU) 2019/2088, Article 6 |
| Carbon Principal adverse impacts (PAI) statement Publish a principal adverse impacts statement on the website and update it annually. | Financial market participants with more than 500 employees (financial advisers from 2022-08) | PAI statement (using the indicators set out in the RTS) | Annually from 2023-06-30 | Reg (EU) 2019/2088, Article 4; DelReg (EU) 2022/1288 |
| Carbon Article 8/9 product classification and periodic disclosure Funds promoting environmental or social characteristics (Article 8) and funds with sustainable investment as their objective (Article 9) must make product- and entity-level disclosures. | Funds/products claiming ESG characteristics or a sustainable investment objective | Product classification, portfolio alignment information, website and periodic disclosures | Phased from 2021; RTS from 2023-01-01 | Reg (EU) 2019/2088, Articles 8–11 |
| Carbon EU Taxonomy alignment disclosure Disclose the proportion of Taxonomy-aligned turnover, capital expenditure and operating expenditure. | Financial institutions within the scope of the CSRD/NFRD, or issuing green bonds | Taxonomy alignment ratios (turnover/capital expenditure/operating expenditure) | Phased from 2022 | Reg (EU) 2020/852; DelReg (EU) 2021/2178 |
| Carbon Sustainability reporting (CSRD) Large or listed financial institutions must report sustainability information in accordance with the ESRS and obtain assurance. | Large or listed financial institutions (thresholds see Omnibus I) | ESRS sustainability statement and third-party assurance | Phased from FY2024; thresholds adjusted by Dir (EU) 2026/470 | Directive (EU) 2022/2464; Dir (EU) 2026/470 |
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Related regulations
| Regulation | Number | Status | Key date | Applies to |
|---|---|---|---|---|
| Sustainable Finance Disclosure Regulation (SFDR) | Regulation (EU) 2019/2088 | In force | 2019 (applies from 2021-03-10) | Financial market participants, financial advisers, funds and financial products |
| EU Taxonomy | Regulation (EU) 2020/852 + DA (EU) 2021/2139 | In force | 2020 | Financial market participants, large companies |
| CSRD Corporate Sustainability Reporting Directive | Directive (EU) 2022/2464 | In force | phased application | Large and listed companies in Europe (transmitted to non-EU suppliers through the supply chain) |
| Omnibus I Amendment | Directive (EU) 2026/470 | In force | 2026-03-18 entry into force | Companies covered and to be covered by CSRD/CSDDD |
| EU Green Bond Standard | Regulation (EU) 2023/2631 | In force | 2024-12 | Green bond issuers |
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