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.
Heike Schmitz
Partner, Germany
Shantanu Naravane
Partner, London
Leonie Timmers
Of Counsel, Madrid
Lewis Saffin
Senior Associate, London
Jan Labusga
Associate, Germany
Key contacts
Heike Schmitz
Partner, Germany
Shantanu Naravane
Partner, London
Leonie Timmers
Of Counsel, Madrid
Lewis Saffin
Senior Associate, London
Jan Labusga
Associate, Germany
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.