First published on
21 April 2021 (last update on: 4 June 2021)

The European Commission adopted on 21 April 2021 an ambitious and comprehensive package of measures to help improve the flow of money towards sustainable activities across the European Union.

By enabling investors to re-orient investments towards more sustainable technologies and businesses, these measures will be instrumental in making Europe climate neutral by 2050.

They will make the EU a global leader in setting standards for sustainable finance.

EU Taxonomy Climate Delegated Act

The EU Taxonomy Climate Delegated Act aims to support sustainable investment by making it clearer which economic activities most contribute to meeting the EU’s environmental objectives.

While the College of Commissioners reached a political agreement on the text of the Delegated Act on 21 April 2021, it will be formally adopted only once it has been translated in all EU languages at the end of May.

Text of the Delegated Act and accompanying documents

Note: This draft was approved in principle by the European Commission on 21 April 2021 and its formal adoption in all the official languages of the European Union took place on 4 June 2021 when all the language versions were made available..

Proposal for a Corporate Sustainability Reporting Directive (CSRD)

The Commission adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), which would amend the existing reporting requirements of the NFRD. The proposal

  • extends the scope to all large companies and all companies listed on regulated markets (except listed micro-enterprises)
  • requires the audit (assurance) of reported information
  • introduces more detailed reporting requirements, and a requirement to report according to mandatory EU sustainability reporting standards
  • requires companies to digitally ‘tag’ the reported information, so it is machine readable and feeds into the European single access point envisaged in the capital markets union action plan

Text of the CSRD proposal

Amending Delegated Acts on sustainability preferences, fiduciary duties and product governance

The Commission also adopted six amending Delegated Acts on fiduciary duties, investment and insurance advice will ensure that financial firms, e.g. advisers, asset managers or insurers, include sustainability in their procedures and their investment advice to clients.

Texts of the amending Delegated Acts

Related information

  • Sustainable finance

    The EU is examining how to make sustainability considerations an integral part of its financial policy in order to support the European green deal

  • EU taxonomy for sustainable activities

    What the EU is doing to create an EU-wide classification system for sustainable activities.

  • Corporate sustainability reporting

    EU rules require certain companies to report annually on the social and environmental impacts and risks related to their activities.

  • Sustainable finance

    The Commission wants to boost the role of finance in achieving a greener and more sustainable economy.