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  • Studio Paci

European Single Access Point (ESAP): New EU Digital Platform for Corporate ESG Information

🌍Introduction:

Recently, the European Parliament has given the green light to the European Single Access Point (ESAP), a groundbreaking digital platform for sharing financial and corporate sustainability information within the European Union.


📜 The Regulatory Context:

EU regulations in the financial services sector require companies to publish hundreds of documents and data to increase transparency and reduce information asymmetry. These data may relate to the financial performance of an entity, environmental, social, or governance issues, as well as the products and services provided.


🎯Objectives of ESAP:

  • Greater Visibility for Companies: ESAP will provide a single access point for public financial and sustainability information on EU companies and investment products, increasing the visibility of companies to investors and opening up new sources of funding, especially for small businesses in small capital markets.

  • Support for the European Green Deal: By containing sustainability information published by companies, ESAP will support the goals of the European Green Deal, serving as a common data space and a fundamental enabler of the EU Digital Strategy and Digital Finance Strategy


⚖️Legislative Process and Implementation:

  • Preliminary Actions: The legislative proposal for ESAP was adopted by the Commission on November 25, 2021, followed by a targeted consultation. The process was initiated as the first action in the new Capital Markets Union Action Plan 2020.

  • Approval Phases: The legislative process involved various committees of the European Parliament and the Council, with approvals and reports issued between 2021 and 2023.

  • Provisional Agreement: On May 23, 2023, after interinstitutional negotiations, the Parliament and the Council reached a provisional agreement.


🛠️Stages of ESAP Implementation:

  • Phase 1 (from 2027): Will include information under the Short Selling Regulation, Prospectus Regulation, and Transparency Directive

  • Phase 2 (6 months after publication of the ESAP): Will expand the scope by including information under the SFDR, CRA Regulation, and Benchmark Regulation.

  • Phase 3: Will add information from about 20 other pieces of legislation, including the Capital Requirements Regulation, the Markets in Financial Instruments Regulation, and the EU Green Bonds Regulation.


The implementation of ESAP is a key step in the transparency and accessibility of corporate ESG information in Europe, with a significant impact on capital market integration and sustainable investment decisions.

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