The SFDR (EU 2019/2088) has been in effect since March 10, 2021, which allows Art. 20, Paragraphs 1 to 3 of SFDR, to go into effect starting January 1st, 2022.
Article 11 requires the following periodic reporting obligations for Articles 8 and 9 products according to the SFDR.
As there are currently no periodic reports according to the technical regulatory standards (RTS) available, cleversoft offers the following product overview:
- Name of the fund
- Classification according to SFDR
- Link to the ESG information of the KVG
- Link to the ESG Level I document
- Link to the annual report
- Link to the sales prospectus
What does that mean at the insurance product level - in conjunction with Articles 28 and 29 of the RTS?
According to Articles 28 and 29 of the final RTS, the insurance company must provide the customer with a list of all investments within the Multi Option product that promote social or sustainable characteristics or aim for sustainable investment. This list should contain the respective category of the investment (Art. 8 or 9) and the proportion of investment options within the 2 categories in relation to all investment options offered in this product.
According to the SFDR, pre-contractual and periodic reports are not required for Multi Option products (see (Art. 72 f. RTS) & FAQ from GDV (No. 60). However, an overview of all possible sustainable investment options per insurance product is required for compliance with Article 28/29 of the RTS, which will cautiously come into force on July 1st, 2022. For this purpose, cleversoft offers to generate the above overview list for each insurance product / tariff. In addition, the information on the "proportion of Art. 8 and 9 products in relation to all investments in this product" can be added to the above overview.