The European Parliament has approved a proposal for a new directive aimed at empowering consumers for the green transition. The directive seeks to assist consumers in making environmentally friendly choices and encourage companies to offer more durable and sustainable products.

The approved negotiating mandate includes provisions to ban misleading environmental claims and promote clear and certified sustainability labels. It also aims to combat early obsolescence by prohibiting design features that limit a product's lifespan and restricting producers from limiting its functionality with consumables or accessories from other companies.

The directive will now enter negotiations with the Council of the EU to finalize its content and wording. This directive aligns with citizens' expectations for sustainable consumption and production and supports the EU's strategy for a circular economy.

Also, the European Supervisory Authorities (EBA, EIOPA, and ESMA) have submitted Draft Regulatory Technical Standards (RTS) to the European Commission regarding ESG impact disclosure for Simple, Transparent, and Standardised (STS) securitizations under the Securitisation Regulation (SECR).

The purpose of these final draft RTS is to provide market participants with information on the sustainability impact of their investments. The proposed standards focus on ESG disclosures for STS securitizations involving residential loans, auto loans, and leases. The aim is to ensure consistency with the Sustainable Finance Disclosure Regulation (SFDR), distinguishing between mandatory indicators (e.g., energy efficiency) and additional indicators (e.g., emissions) in the publication of available information.

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