SFDR Guidelines for Luxembourg – Second Edition

The regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (or “SFDR”) constitutes, together with the Taxonomy Regulation and Benchmark Regulation, the cornerstone of the 2018 European Commission’s Sustainable Finance Action Plan, which includes a strong political ambition to redirect private capital flows towards sustainable activities.

On 10 March 2021, financial market participants (FMPs) and financial advisers (FAs) offering their services in the European Union (EU) became subject to a complex set of new rules requiring them to provide their clients with easily accessible information with regard to the integration of environmental and social factors into their investment decision-making or advice processes, and sustainability‐related information with respect to financial products.

At the request of the Association des Banques et Banquiers, Luxembourg (ABBL), the Association of the Luxembourg Fund Industry (ALFI) and the Association des Companies d’Assurances et de Réassurances (ACA), Stibbe Avocats have prepared the present updated structured implementation guide on the SFDR (the Guide).

The objective of this Guide is to help banks, investment firms, management companies, insurance undertakings, insurance intermediaries and pensions firms in the Grand Duchy of Luxembourg (Luxembourg) to decide what business decisions need to be made prior to the actual implementation of SFDR requirements and to help them to structure their implementation process. It was produced by Stibbe Avocats and the interpretations set out in this Guide are based on information publicly available as of 30 March 2023.

This Guide has been prepared solely for information purposes and the use of ABBL, ALFI and ACA’s members.

The document is available online in the space reserved for members of the various associations.