As the financial industry continues to evolve under the growing emphasis on ESG criteria, staying ahead of regulatory changes is paramount. The latest update from FinDatEx, the European ESG Template (EET) v1.1.2, released on December 20th, 2023, marks a significant step in this journey. Though it introduces minor adjustments, its impact on compliance is far from minor.
Key Updates in EET v1.1.2:
- Accuracy Enhancement: The new version corrects typographical errors, underscoring the commitment to precision.
- Data Field Transition: The shift from M/C to O in data fields reflects an effort to enhance the richness of data.
- Addition of New Fields: Two crucial fields have been added: “Frequency of providing information on PAI (Principal Adverse Impacts)” and a “Snapshot list of invested countries in the sovereign sub-part of the portfolio.”
It’s important to note that EET v1.1.2 retains structural consistency with its predecessors, ensuring a smoother transition for users. However, major amendments to the EET, such as removing unused columns, clarifying the use of the section on exclusions, and increasing the readability of the template by restructuring the data fields, have been postponed to a later date.
This delay is mainly due to the currently unclear adoption of the reviewed SFDR Regulatory Technical Standards as delegated legislation by the European Commission and the ongoing legislative process.
This version becomes effective on December 31, 2023, and is essential for SFDR entity-level reporting, with deliverables due by the end of March 2024.
Solving EET reporting with Fundipedia
With 616 fields, EET v1.1.2 is one of the most comprehensive files released by FinDatEx. Staying compliant requires a deep understanding of these intricacies.
Fundipedia’s end-to-end regulatory reporting solution has the robust control systems you need to support you in all aspects of the EET, from pre-production through to dissemination.
Talk to our team today about how we can help you meet your reporting requirements quickly and easily.