Transitioning to SFDR 2.0 - A practical playbook

SFDR 2.0 is expected to introduce end of November 2025 several changes, for example how funds describe and evidence sustainability, moving from Article 6/8/9 to clearer categories (e.g. Sustainable, Transition) and potentially simpler and more streamlined disclosures.

Several questions arise from these expected changes for existing funds (open-ended / closed-ended) as well as products in the pipeline regarding their positioning, naming and changes required. The update is also expected to lean into machine-readable disclosures and Taxonomy/CSRD linkages, so your reporting and controls need to adapt.

This 2-hour training compresses the essentials into a hands-on playbook of the most important points allowing you to plan for your transition from SFDR 1.0 to SFDR 2.0.

By the end of this training, participants will be able to:

• understand the key changes introduced by SFDR 2.0;
• assess the impact on product strategy and communication;
• undestand how to remap your product shelf according to new category;
• prepare for enhanced reporting and controls.

• SFDR 2.0: key changes vs 1.0 (categories, indicator, templates, PAI)
• Implications for product design, naming, and client communications
• How to remap your shelf (Sustainable / Transition / 3rd category) with evidence
• Outlook

This training is coordinated by Michael Horvath, Partner at PwC Luxembourg.

• Michael Horvath is a partner at PwC with extensive expertise in sustainable finance and the asset management industry, including both financial and real assets. Since joining PwC Switzerland in 2011 and PwC Luxembourg in 2018, he has led significant projects in regulatory audit and advisory, focusing on the asset management sector. Michael has played a key role in implementing the EU regulatory framework for sustainable finance, including SFDR, taxonomy regulation, and CSRD, as well as other regulatory initiatives such as DORA, AML/CFT, CSSF circular 18/698, and MICA. He is a certified public accountant in Switzerland and Liechtenstein and has contributed to designing compliance frameworks and operational implementations driven by regulatory changes. His notable client projects include defining target operating models for Luxembourg AIFMs, digital operational resilience planning, AML/CFT framework implementation, and ESG/sustainability process design, supported by his involvement in training and regulatory advisory.