The European Securities and Markets Authority (ESMA) has published the outcome of its 2024 Common Supervisory Action (CSA) on environmental, social and governance (ESG) disclosures under the Benchmarks Regulation (BMR), setting out recommendations for both policymakers and benchmarks administrators. The CSA, conducted with National Competent Authorities and described as ESMA’s first in its role as a direct supervisor of benchmarks administrators, resulted in recommendations to the European Commission on potential amendments to BMR Level 2 measures aimed at alleviating regulatory burden. It also provides recommendations to benchmarks administrators intended to improve the transparency and comparability of ESG information for benchmark users, while noting the importance of consistency and compatibility of ESG disclosure requirements across sustainable finance legislation. ESMA will continue to liaise with National Competent Authorities and the European Commission on follow-up actions, including the use of supervisory convergence tools to promote consistent supervision of ESG disclosure across the EU.
European Securities and Markets Authority 2025-04-09
European Securities and Markets Authority publishes supervisory findings on ESG benchmark disclosures and recommends changes to Benchmarks Regulation Level 2 measures
The European Securities and Markets Authority (ESMA) released results of its 2024 Common Supervisory Action on ESG disclosures under the Benchmarks Regulation, recommending amendments to BMR Level 2 measures to reduce regulatory burden and improve ESG transparency. ESMA will work with National Competent Authorities and the European Commission to ensure consistent supervision of ESG disclosures across the EU.