PwC's SFDR Barometer for Management Companies unveils surge in commitment to sustainable finance

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The latest edition of the PwC SFDR Barometer offers a comprehensive overview of the landscape of Sustainable Finance Disclosure Regulation (SFDR) among management companies. With 53 management companies participating, managing a staggering EUR 1.62tn in assets, the barometer provides valuable insights into industry trends and challenges.

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29/02/2024 |
  • Bertrand Jaboulay

This year's barometer saw a robust participation from various regions, including Europe, North America, and Asia. Notably, Super Management Companies constituted the highest number of respondents, showcasing a growing awareness and commitment to sustainable finance practices.

Among the key findings:

Article 8 Funds reign supreme: As expected, Article 8 Funds emerge as the most popular products in Europe, with 30% of management companies each overseeing more than 45 such funds. This underscores a significant focus on integrating environmental, social, and governance (ESG) factors into investment strategies.

Intentions to upgrade: Super Management Companies lead the pack in their intention to upgrade at least one of their funds, with upgrades from Article 6 to 8 being the most common reclassification.

Limited downgrades: While upgrades are prevalent, planned downgrades are rare, with only 3% of respondents indicating such intentions. This reflects a steadfast commitment to sustainable investment practices.

Sustainable Investment commitment: Approximately 37% of respondents manage Article 8 Funds with a minimum commitment of Sustainable Investments. This represents  a notable increase observed compared to previous years. The most popular commitment range remains within the 5%-25% basket of the portfolio of so-called Article 8+ products.

Challenges and solutions: The report identifies key challenges in SFDR compliance, including the misconstrued perception of poor data coverage and quality, interpretation of the regulation, and establishing robust methodologies. Over half of respondents leverage service providers for compiling reports, while more than 40% seek assurance on their SFDR annexes, that’s a significant increase on the previous year’s 33%.

Commenting on the findings, Bertrand Jaboulay, Audit Partner, Management Company Observatory Leader at PwC Luxembourg, said: "The PwC SFDR Barometer sheds light on the evolving landscape of sustainable finance regulation, highlighting both progress and persistent challenges. It's encouraging to see the commitment of management companies towards integrating sustainability into their investment strategies, but there's still work to be done to address data quality issues and ensure robust compliance."

The PwC SFDR Barometer serves as a vital tool for industry stakeholders, providing actionable insights to navigate the complex terrain of sustainable finance regulation effectively.

For more information and to access the full report: The SFDR Barometer for Management Companies

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