The EU Sustainable Finance Reform - a new rulebook for European investment managers

Responding to the need to move towards a global sustainable development framework, the European Commission ("EC") has set in motion an ambitious legislative programme to make environmental, social and governance ("ESG") concerns a central plank of regulation in the financial services industry. One of its core tenets is a belief that financial services firms, particularly those which invest on behalf of clients, can play a key role in the transition to a low-carbon and more sustainable economy. This article aims to provide a summary of the key features of this new rulebook for European investment managers.