SFDR Level 2 requirements, which come into effect January 2023, are much more prescriptive than SFDR Level 1 requirements that already apply. Though Level 2 requirements include additional qualitative disclosures, the key difference lies in the introduction of quantitative data requirements: the PAI indicators. These are an extensive set of metrics that cover a range of ESG criteria, from greenhouse gas emissions to gender pay equality.
This Annex contains the full list of PAIs along with their associated definitions. It is split between: