briefINSIGHT by The Association for Financial Markets in Europe (AFME)

AFME has published an updated edition of the 2021 Sustainable Finance in Europe: Regulatory State of Play report.

The progress in the development of the European sustainable finance regulatory framework hasn’t shown signs of slowing down since the publication of our last report. This rapid rate of change, combined with the overwhelmingly positive feedback from stakeholders, encouraged us to renew AFME’s partnership with Linklaters and publish this updated version for 2023.

This report reviews the latest developments and their impact on banks and capital markets, providing a practical guide to the wide range of initiatives in Europe.

It aims to help members keep track of the main sustainable finance-related regulatory developments within the European Union, the United Kingdom and Switzerland.

This guide was first published in November 2021 but has now been updated to reflect the developments that have occurred since then.


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The Association for Financial Markets in Europe (AFME) is the voice of Europe’s wholesale financial markets, providing expertise across a broad range of regulatory and capital markets issues. We represent the leading global and European banks and other significant capital market players. AFME’s members are the lead under- writers of 89% of European corporate and sovereign debt, and 75% of European listed equity capital issuances.


All opinions expressed are those of the author and/or quoted sources. is an independent and neutral platform dedicated to generating debate around ESG investing topics.