- What does the Sustainable Finance Disclosure Regulation mean for financial market participants?
- What needs to be considered in daily business?
- The basics for setting up a legally compliant sustainability strategy
- Knowledge about the implementation of required internal processes More info
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Companies can no longer ignore the EU's new transparency regulation
Those who are not regular readers of the "Official Journal of the European Union" may have been surprised when the keyword "EU Transparency Regulation" was suddenly on everyone's lips. On December 9, 2019, the European authority had published Regulation 2019/2088 on "sustainability-related disclosure requirements in the financial services sector." As of March 10, 2021, the new regulations are valid throughout the EU. They are intended to further anchor the topic of sustainability in the financial market at European level. At the same time, the aim is to prevent different measures being pursued at national level in different areas of the financial sector.
Knowing and understanding the Transparency Regulation
The fact that what was originally called the "Sustainable Finance Disclosure Regulation" now exists is a challenge for financial market participants and financial advisors. Although the EU's Transparency Regulation - TVO for short - was adopted largely unnoticed by a broad public, no one can now ignore the issue. For this reason, companies are well advised to train their employees accordingly. This is possible with this current e-learning course from Security Island. Participants learn about and understand the facets of the topic "EU Transparency Regulation" using many examples.
But what is the TVO all about, what does it have to do with sustainability - and how does it affect banks and insurance companies? Basically, it's like this: Since the "EU Transparency Regulation" came into force, financial market participants and financial advisors have had to take greater account of the issue of sustainability. The European Union is concerned with the Transparency Regulation in particular with uniform disclosure obligations with regard to sustainability factors and sustainability risks.
Sustainability factors and sustainability risks according to the EU Transparency Regulation
In its Transparency Regulation, the European Union defines sustainability factors as environmental, social and employee concerns, but also respect for human rights and the fight against corruption and bribery. According to the Transparency Regulation, sustainability risks, on the other hand, are framework conditions that could have a negative impact on the value of an investment in the areas mentioned above. This sounds rather abstract, so let's take an example from the important area of the environment: The much-cited climate change leads to an increased occurrence of extreme weather events, rain fails to fall, drought sets in, rivers carry less water, water levels drop and ships can no longer transport goods. The result: the manufacturer can no longer deliver its products to the customer - the investment loses value.
Precise specifications on how companies should align their risk management with the EU Transparency Regulation are not found in the EU paper. Instead, there are indications of what information they must publish with regard to sustainability risks. Various professional associations have already reacted to this and provide their members with material that they can "copy and paste" onto their websites.
EU Transparency Regulation - a complete overview with e-learning
This is undoubtedly a good service, but it is probably more effective to understand the multifaceted topic of the EU Transparency Regulation in its entirety and to formulate your own explanations. An e-learning course from Security Island shows how this can be done. The online learning covers, for example, implementation obligations, pre-contractual (!) obligations and advice, as well as mandatory components of regular reports. In addition - also an important topic - marketing requirements are addressed.
It is not surprising that EU policymakers have taken an in-depth look at the issue of sustainability with the Transparency Regulation. In the years before, there had already been several sustainability regulations on certain financial instruments at EU level. However, the new Regulation 2019/2088 to increase transparency in the financial market sector is now much more comprehensive than previous measures. Apparently, the time was ripe for it.
Transparency regulation to help investors with sustainability
Bank and insurance advisors have long known from their day-to-day work that the prospect of returns is no longer the main motivator when considering investments; the issue of sustainability is also increasingly playing a role. Many investors are prepared to be more conscious with their money. They are choosing products that do not harm the climate or the environment. For this reason, market observers currently describe interest in sustainable investments as a "growth topic" and emphasize that the current investor interest represents the "beginning of a long-term trend". Accordingly, it will become even more important in the future. The EU Transparency Regulation is also intended to help private customers make well-considered decisions - and in order to weigh up the ecological as well as social aspects of an investment, comprehensive information is indispensable.
It is to be expected that there will be numerous adjustments to regulatory requirements in the finance and insurance industry in the future with regard to sustainability. The EU Transparency Regulation is just one piece of a large puzzle. Only those who keep an eye on the issue will not lose touch.
Targeting industry players with e-learning on the Transparency Regulation
The experts at Security Island will therefore always keep the e-learning courses offered on the subject of the EU Transparency Regulation up to date and adapt them to current developments. In this way, various industry players can be informed in a targeted manner. Banks face different challenges in their daily business than insurance companies, small companies have different questions on the topic of sustainability than large companies - and in order to meet the requirements of different players from different industries, it is no problem for Security Island to individualize the e-learning course content. With a view to the EU Transparency Regulation, this means that individually tailored online offerings can be designed for banks and insurance companies, for example.
EU Transparency Regulation: Meeting reporting obligations with legal certainty
If there is interest, the author of the Security Island e-learning course and his team of consultants can provide interested companies with information on all questions relating to the implementation and the implementation of the regulation in existing company structures. This is also possible in the form of on-site workshops, taking into account the Corona regulations in force at the time. In this direct form of consulting, it is also possible to weigh up precisely to what extent the EU Transparency Regulation is relevant for the interested company - and how possible reporting obligations can be met in a legally secure manner.
Yes, we offer a 2-day on-site workshop on the implementation of the EU Transparency Regulation with our course author, lecturer and compliance specialist Holger Berens.
For more information, please contact us via the contact form below.