Sustainable Finance update (asset management): CSSF communication on SFDR RTS confirmation letter

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Further to our newsflash of 29 July 2022 in connection with the CSSF’s communication of 27 July 2022 in relation to SFDR and the upcoming entry into force of the SFDR RTS on 1 January 2023, the CSSF issued a further communication on 6 September 2022 informing that the confirmation letter (the “Confirmation Letter“) that will have to accompany the filing of the prospectus/issuing document of funds subject to Articles 8 and 9 of SFDR (“Article 8 and 9 Funds“) is now available on its website (the “Communication“).

There is one version of the Confirmation Letter for UCITS (available here) and one for AIFs (available here).

In addition to information on the SFDR classification and the ESG strategy of the relevant fund, information has to be provided in the Confirmation Letter on whether the fund is in scope of the Taxonomy Regulation. Although these concepts are not necessarily the same, the compliance table in the UCITS Confirmation Letter does not appear to make any distinction between the promoted environmental characteristics and sustainable investments with environmental objectives of the Taxonomy Regulation which we hope will be addressed by the CSSF.

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