The European Supervisory Authorities (ESAs), a committee comprising Europe’s top three financial regulatory agencies, has announced proposals to add disclosures to the E.U.’s Sustainable Finance Disclosure Regulation (SFDR) relating to investments in fossil gas and nuclear energy activities.

In a September 30 announcement, the committee proposed a requirement for providers of sustainability-related investment products to disclose their intention to invest in nuclear or gas, and to detail the proportion of any such investments.

Current requirements under the SFDR include reporting on the alignment of investments with the EU taxonomy, the categorization of economic activities that contribute to climate change mitigation.

While nuclear and gas were not initially included in the EU’s taxonomy regulation, they were both granted classification as “green activities” earlier this year. Following this decision, the European Commission sent a request to the ESAs to propose amendments to the SFDR’s regulatory technical standards to consider the exposure of financial products to investments in fossil gas and nuclear energy activities.

The implementation of the SFDR disclosure requirements related to sustainable investment products has been set for January 2023.