ESMA to launch and participate in Common Supervisory Action on ESG disclosures for Benchmarks Administrators

Summary:

The European Securities and Markets Authority (ESMA) is launching a Common Supervisory Action (CSA) to assess compliance with ESG disclosure requirements for supervised benchmarks administrators under the Benchmarks Regulation (BMR). The initiative aims to ensure consistent and effective supervision of ESG disclosures across the EU, enhance transparency, and address greenwashing. The CSA will focus on supervised benchmarks administrators' disclosure of ESG factors, climate benchmarks methodology, and other specific requirements. ESMA and National Competent Authorities will share knowledge and experiences to foster convergence in supervising ESG disclosure requirements. The CSA is expected to be conducted between 2024 and Q1 2025.