ESG research report series | Part 3 – ESG risks, disclosures and regulatory engagement

In part three of our ESG research report series, we turn our attention to the financial services sector. The ESG research report published earlier this year revealed that 60% of respondent financial services firms have had engagement with regulators on ESG-related matters, including around the role of the board and senior management in identifying and addressing ESG-related risks.

It is expected that the Central Bank of Ireland will be publishing its findings relating to the Common Supervisory Action on the integration of sustainability risks and disclosures in the investment funds sector (CSA) imminently, having undertaken significant engagement with industry (commencing with the issuance of related questionnaires to various fund managers in 2023) on foot of the CSA. It is, therefore, timely to consider ESMA’s report on the outcomes of the CSA. This publication looks at:

• the scope of the CSA, methodology used and the assessment framework
• ESMA’s key findings, focusing on:
  • integration of sustainability risks and factors
  • entity-level SFDR disclosures
  • product level SFDR disclosures
• next steps

For further information please contact Lorena Dunne, Partner, Jill Shaw, ESG & Sustainability Lead, or any other member of the ALG ESG & Sustainability team.

Date published: 3 October 2025