European Securities and Markets AuthorityFinal report : 2023-2024 CSA on the integration of sustainability risks and disclosures / ESMA. — Paris : ESMA, 202536 p.Background -- Scope of the analysis and methodology -- Compliance with the legislative framework -- Integration of sustainability risks and factors -- Entity-level SFDR disclosures -- Product-level SFDR disclosures -- Follow-up actions envisaged by NCAs. — Sumario: The document reviews how investment fund managers integrate sustainability risks and comply with disclosure requirements under AIFMD, UCITS, and SFDR. The CSA assessed entity-level and product-level disclosures, remuneration policies, and governance practices, identifying gaps such as vague language, inconsistent disclosures, insufficient resources, and weak controls. While overall compliance was deemed satisfactory, significant improvements are needed in transparency, methodology, and greenwashing risk management. ESMA recommends stronger supervisory follow-up, clearer standards, and enhanced enforcement to ensure fair, clear, and non-misleading sustainability disclosures across the EU1. Reglamento SFDR. 2. Sostenibilidad. 3. Riesgos. 4. Política social. 5. Gobierno corporativo. 6. Transparencia financiera. 7. Gerencia de riesgos. 8. Unión Europea. I. European Securities and Markets Authority. II. Título.
