Photo of Patrick Scholl

Patrick Scholl is a partner and head of Mayer Brown's Banking & Finance practice in Frankfurt. Patrick leads the Mayer Brown capital markets and derivatives offering in Germany with an European focus. His team advises on debt capital markets issuances and disclosures, debt issuance programms, hybrid capital instruments as well as liability management transactions. The OTC derivatives practice focuses on advising and negotiating master agreements (including repos and stock lending), collateral solutions, netting questions and provides transaction support with regard to all underylings, including equity-linked, credit-linked, fund-linked or commodity-linked derivatives.

View full profile on MayerBrown.com.

On 10 November 2022, the EU Parliament adopted the Corporate Sustainability Reporting Directive (“CSRD“). The EU Council is expected to adopt the CSRD on 28 November 2022, after which it will be published in the Official Journal. The CSRD will then enter into force 20 days after publication and EU member states will have 18

On 11 February, the European Securities and Markets Authority (“ESMA“) published its Sustainable Finance Roadmap for 2022-2024 (the “Roadmap“).

The Roadmap builds on ESMA’s 2020 Strategy for Sustainable Finance and will be of interest to those in the EU and beyond looking to understand the focus and ambition of the EU’s

On 22 October 2021, the three European Supervisory Authorities (EBA, EIOPA and ESMA – the “ESAs“) delivered to the European Commission the expected Final Report with draft Regulatory Technical Standards (RTS) with respect to additional pre-contractual and periodic disclosure relating to financial products that make sustainable investments contributing to environmental objectives (“Draft SFDR Amendment RTS” – JC 2021 50). By virtue of such new draft rules, the EU will regulate the market by establishing standardized disclosures.

Under a formalistic approach, such new Draft SFDR Amendment RTS as level 2 measures under the EU Sustainable Finance Disclosure Regulation (“SFDR“, Regulation (EU) 2019/2088) aim to

  • provide disclosures to end investors regarding the investments of financial products in environmentally sustainable economic activities;
  • provide end investors with comparable information to make informed investment choices; and
  • establish a single rulebook for sustainability disclosures under the SFDR and the Taxonomy Regulation (Regulation (EU) 2020/852).


Continue Reading New EU Rules for Taxonomy-Related Product Disclosures

On April 21, 2021, the European Commission adopted a comprehensive package of measures to help improve the flow of money toward sustainable activities across the European Union.

The measures adopted include:

  • The EU Taxonomy Climate Delegated Act, which aims to support sustainable investment by making it clearer which economic activities most contribute to meeting