{"id":5690,"date":"2026-04-14T23:26:22","date_gmt":"2026-04-14T21:26:22","guid":{"rendered":"https:\/\/jtieuaffairs.brussels\/?p=5690"},"modified":"2026-04-15T20:07:02","modified_gmt":"2026-04-15T18:07:02","slug":"rethinking-sfdrs-direction-sustainable-finance-or-selective-finance","status":"publish","type":"post","link":"https:\/\/jtieuaffairs.brussels\/index.php\/2026\/04\/14\/rethinking-sfdrs-direction-sustainable-finance-or-selective-finance\/","title":{"rendered":"Rethinking SFDR\u2019s direction: sustainable finance or selective finance?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5690\" class=\"elementor elementor-5690\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-486b2e8 e-flex e-con-boxed e-con e-parent\" data-id=\"486b2e8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-e8b66e3 e-con-full e-flex e-con e-child\" data-id=\"e8b66e3\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-c83e332 e-flex e-con-boxed e-con e-child\" data-id=\"c83e332\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-87c3f6e elementor-widget elementor-widget-text-editor\" data-id=\"87c3f6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a style=\"font-family: seitu-variable, sans-serif; font-weight: 300; font-size: 12px;\" href=\"https:\/\/jtieuaffairs.brussels\/index.php\/homepage\/\">home page <\/a>\u2190 Buzz@Bruss! Edition #9 \u2190 <strong>Rethinking SFDR\u2019s direction: sustainable finance or selective finance?<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-abc1839 e-flex e-con-boxed e-con e-parent\" data-id=\"abc1839\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-fd46bb1 e-flex e-con-boxed e-con e-child\" data-id=\"fd46bb1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8c779b7 elementor-widget elementor-widget-image\" data-id=\"8c779b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"354\" src=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2-1024x453.jpg\" class=\"attachment-large size-large wp-image-5692\" alt=\"\" srcset=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2-1024x453.jpg 1024w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2-300x133.jpg 300w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2-768x340.jpg 768w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2-1536x680.jpg 1536w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/header-image-9.2.jpg 2000w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5181db0 elementor-widget elementor-widget-spacer\" data-id=\"5181db0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a952274 e-flex e-con-boxed e-con e-parent\" data-id=\"a952274\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-bf01165 e-con-full e-flex e-con e-child\" data-id=\"bf01165\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-b31134f e-flex e-con-boxed e-con e-child\" data-id=\"b31134f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c5afe8 elementor-widget elementor-widget-text-editor\" data-id=\"4c5afe8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Recent proposals to amend the EU Sustainable Finance Disclosure Regulation (SFDR) contradict the regulation\u2019s underlying purpose and risk alienating important potential stakeholders. <strong><span style=\"color: #00bb31;\">Buzz@Bruss! spoke to Tim Lin (TL), JT Group &#8211; Risk Management &amp; Capital Markets Director,<\/span><\/strong> to better understand what this may mean to the Company as well as to the EU\u2019s overall climate and sustainability initiative.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9ce249c e-con-full e-flex e-con e-child\" data-id=\"9ce249c\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1c8e39f elementor-widget elementor-widget-text-editor\" data-id=\"1c8e39f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"font-size: 16px;\">What is SFDR?<\/span><\/strong><\/p><p>The SFDR <a href=\"https:\/\/eur-lex.europa.eu\/eli\/reg\/2019\/2088\/oj\/eng\" target=\"_blank\" rel=\"noopener\"><strong>(<span style=\"text-decoration: underline;\">Regulation (EU) 2019\/2088)<\/span> \u2192<\/strong><\/a> is an EU transparency framework, in force since March 2021, designed to improve how sustainability information is disclosed in the financial sector. Its main goal is to make sure that investment products are transparent about how they consider sustainability (environmental, social and governance issues).<\/p><p>SFDR requires banks, asset managers and investors to:<\/p><p>\u00b7 Clearly explain how sustainability risks are considered when they invest<br \/>\u00b7 Be transparent about what they claim is \u201csustainable\u201d and why<br \/>\u00b7 Avoid greenwashing (making sustainability claims that are vague or misleading)<\/p><p>In November 2025, <span style=\"text-decoration: underline;\"><a href=\"https:\/\/ec.europa.eu\/info\/law\/better-regulation\/have-your-say\/initiatives\/14666-Revision-of-EU-rules-on-sustainable-finance-disclosure_en\" target=\"_blank\" rel=\"noopener\"><strong>the European Commission published a reform proposal<\/strong><\/a><\/span><a href=\"https:\/\/ec.europa.eu\/info\/law\/better-regulation\/have-your-say\/initiatives\/14666-Revision-of-EU-rules-on-sustainable-finance-disclosure_en\" target=\"_blank\" rel=\"noopener\"><strong> \u2192<\/strong><\/a> with the stated goal of simplifying the framework, improving legal clarity and reducing administrative burdens for financial market participants.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-29eabfc e-con-full e-flex e-con e-child\" data-id=\"29eabfc\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bb8e29a elementor-widget elementor-widget-image\" data-id=\"bb8e29a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"651\" height=\"873\" src=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/Tim_Lin-9.2.jpg\" class=\"attachment-large size-large wp-image-5710\" alt=\"\" srcset=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/Tim_Lin-9.2.jpg 651w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/Tim_Lin-9.2-224x300.jpg 224w\" sizes=\"(max-width: 651px) 100vw, 651px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-174422e elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"174422e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"font-size: 16px;\">What are your thoughts about the EU\u2019s SFDR initiative?<br \/><br \/><\/span><\/strong><strong><span style=\"color: #00bb31;\">TL:<\/span><\/strong> When SFDR was first introduced, it was meant to be a transparency tool \u2013 not a classification or labelling system. The idea was simple: increase clarity on how sustainability risks are considered, curb greenwashing, help retail investors compare products, and channel capital into a broad range of sustainability themes, not only environmental ones.<br \/>In reality, the framework quickly became complex, open to interpretation and hard to apply consistently. That\u2019s what led to the Commission\u2019s SFDR\u202f2.0 proposal, aimed at simplifying disclosures and creating clearer sustainability related product categories. But this marks a real shift: SFDR starts moving from explaining how sustainability is assessed to defining what counts as sustainable in the first place.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b981d1 elementor-widget elementor-widget-text-editor\" data-id=\"3b981d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>And that\u2019s where the concern lies. A tool designed to inform investor judgement is at risk of turning into a gatekeeper \u2013 one that increasingly predetermines which sectors, business models or transition pathways are considered investable.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9763288 e-con-full e-flex e-con e-child\" data-id=\"9763288\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d55e40c elementor-widget elementor-widget-text-editor\" data-id=\"d55e40c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Under SFDR, investment funds are classified by asset managers themselves into different \u201cArticles\u201d, based on what they disclose about sustainability in their investment strategy:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb4c2ae elementor-widget elementor-widget-text-editor\" data-id=\"bb4c2ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul style=\"list-style-type: disc; padding-left: 20px;\">\n    <li style=\"margin-bottom: 10px;\"><strong>Article 6<\/strong> funds do not promote sustainability characteristics. They must explain how sustainability risks are considered \u2013 or why they are not.<\/li>\n    <li style=\"margin-bottom: 10px;\"><strong>Article 7<\/strong> funds consider some sustainability factors but do not promote specific characteristics. They must disclose how these considerations influence their investment approach.<\/li>\n    <li style=\"margin-bottom: 10px;\"><strong>Article 8<\/strong> funds promote environmental or social characteristics and must disclose how these are integrated, alongside any exclusions they apply.<\/li>\n    <li style=\"margin-bottom: 0px;\"><strong>Article 9<\/strong> funds pursue an explicit sustainable investment objective and face the most demanding disclosure expectations.<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a501c7 elementor-widget elementor-widget-text-editor\" data-id=\"1a501c7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>These Articles were designed as disclosure categories, not as eligibility tests. In practice, Articles\u202f8 and\u202f9 are now widely treated by markets as ESG labels. This has led asset managers to apply increasingly restrictive exclusions in order to qualify for \u2013 or remain within \u2013 these categories, with direct consequences for which sectors can access ESG labelled capital.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b12156e elementor-widget elementor-widget-text-editor\" data-id=\"b12156e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"font-size: 16px;\">What are the key aspects of change in the SFDR 2.0 proposals?<\/span><\/strong><\/p><p><strong><span style=\"color: #00bb31;\">TL:<\/span><\/strong> The new classification into Articles\u202f6,\u202f7,\u202f8 and\u202f9 is meant to help investors and asset managers better distinguish between different product types.<\/p><p>But SFDR was never designed to push entire industries out of sustainable finance \u2013 yet that\u2019s what has happened. Companies involved in fossil fuels, coal power, armaments, tobacco and others have seen their access to ESG labelled capital shrink, while other sectors continue to qualify with little difficulty.<\/p><p>Under the new proposals, some previously excluded categories regain access to ESG funding \u2013 but tobacco remains out.<\/p><p>For investors, this trend limits choice. Strict labels make it harder to compare investment strategies, evaluate transition pathways, or allocate capital based on forward looking performance rather than static classifications.<\/p><p>This creates tension with the EU\u2019s own transition ambitions. If sustainable finance is meant to drive real world change, excluding lawful sectors by default risks cutting off the very capital required to support it.<\/p><p>For us, the goal isn\u2019t to lower sustainability ambition but to return SFDR to its original purpose. These categories should function as disclosure tools \u2013 not automatic exclusion filters. Especially in the proposed \u2018transition\u2019 category, companies should be judged on the credibility of their plans, data and governance, not on labels alone. That means revisiting hardwired exclusions that override investor judgement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6bd4555 elementor-widget elementor-widget-text-editor\" data-id=\"6bd4555\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"font-size: 16px;\">What does this mean for JTI?<\/span><\/strong><\/p><p><strong><span style=\"color: #00bb31;\">TL:<\/span><\/strong> We believe that access to transition finance should be determined by credibility, transparency and evidence \u2013 not by blanket exclusions that disregard individual track records and commitments.<\/p><p>This matters especially for the proposed \u2018transition\u2019 category. A framework designed to support progress cannot exclude entire lawful sectors from the start; doing so undermines its purpose. Transition finance only works if it can distinguish between companies standing still and those demonstrably changing course.<img decoding=\"async\" class=\"alignnone wp-image-5731 alignright\" style=\"margin-left: 20px; margin-bottom: 15px; margin-top: 15px; border-radius: 8px;\" src=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/image-9.2-300x176.jpg\" alt=\"Green deal\" width=\"372\" height=\"220\" srcset=\"https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/image-9.2-300x176.jpg 300w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/image-9.2-1024x602.jpg 1024w, https:\/\/jtieuaffairs.brussels\/wp-content\/uploads\/2026\/04\/image-9.2.jpg 1089w\" sizes=\"(max-width: 372px) 100vw, 372px\" \/><\/p><p>For JTI and other tobacco manufacturers, this has both social and environmental dimensions. Our industry employs millions globally, many in farming communities in developing countries. We run programs that support local livelihoods, eliminate child labor, strengthen sustainable agriculture and protect biodiversity.<\/p><p>Within our own operations, we are advancing toward carbon neutrality by 2030 and net zero across our value chain by 2050. We continue to invest in initiatives across our Sustainability Impact Framework \u2013 Product, People, Planet \u2013 that address major sustainability challenges and align with SFDR\u2019s expectations.<\/p><p>We are also investing heavily in innovations that advance reduced-risk products \u2013 non-combustible alternatives with the potential to lower the health impacts associated with smoking.<\/p><p>To sustain this progress, we need access to financial markets willing to invest in these efforts. Our Green Loan \u2013 the first in the tobacco industry \u2013 is already supporting emissions reduction projects and other environmental initiatives.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fcdecb elementor-widget elementor-widget-text-editor\" data-id=\"7fcdecb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong><span style=\"font-size: 16px;\">Any final thoughts?<\/span><\/strong><\/p><p><strong><span style=\"color: #00bb31;\">TL:<\/span><\/strong> &#8220;No-one should be left behind\u201d was a founding principle of the European Green Deal. That ambition matters just as much in sustainable finance as it does in climate or social policy. SFDR was designed to bring transparency, comparability and trust to investment decisions \u2013 not to hard code exclusions or pre judge which sectors can contribute to Europe\u2019s transition.<br \/><br \/>A credible sustainable finance framework should empower investors to distinguish between companies that are standing still and those that are changing course. Data, track records and credible transition strategies \u2013 not blanket assumptions or automatic exclusions \u2013 are what ultimately enable capital to support real world progress.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e5f636 elementor-widget elementor-widget-spacer\" data-id=\"8e5f636\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e1a4103 e-flex e-con-boxed e-con e-parent\" data-id=\"e1a4103\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a7e0a78 e-con-full e-flex e-con e-child\" data-id=\"a7e0a78\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-362297c e-flex e-con-boxed e-con e-child\" data-id=\"362297c\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d867c99 elementor-widget elementor-widget-spacer\" data-id=\"d867c99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1c64ab0 e-flex e-con-boxed e-con e-child\" data-id=\"1c64ab0\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-996c094 e-con-full e-flex e-con e-child\" data-id=\"996c094\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f0b60d3 e-con-full e-flex e-con e-child\" data-id=\"f0b60d3\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-27776e2 elementor-widget elementor-widget-text-editor\" data-id=\"27776e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Buzz@Bruss!<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dcc0ed8 e-con-full e-flex e-con e-child\" data-id=\"dcc0ed8\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cd0e304 elementor-widget elementor-widget-text-editor\" data-id=\"cd0e304\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>#9<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9730915 e-con-full e-flex e-con e-child\" data-id=\"9730915\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b353f48 elementor-widget elementor-widget-text-editor\" data-id=\"b353f48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\"><b>more articles<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a16afcc elementor-widget elementor-widget-spacer\" data-id=\"a16afcc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<a class=\"elementor-element elementor-element-11c92b4 e-con-full e-flex e-con e-child\" data-id=\"11c92b4\" data-element_type=\"container\" data-e-type=\"container\" href=\"https:\/\/jtieuaffairs.brussels\/index.php\/2026\/04\/15\/eu-tobacco-policy-the-litmus-test-for-better-regulation\/\">\n\t\t\t\t<div class=\"elementor-element elementor-element-120d574 elementor-widget elementor-widget-text-editor\" data-id=\"120d574\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>EU Tobacco Policy: The litmus test for Better Regulation<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7ba8b11 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7ba8b11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<a class=\"elementor-element elementor-element-28047d8 e-con-full e-flex e-con e-child\" data-id=\"28047d8\" data-element_type=\"container\" data-e-type=\"container\" href=\"https:\/\/jtieuaffairs.brussels\/index.php\/2026\/04\/15\/prevent-disease-dont-script-lives\/\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4930118 elementor-widget elementor-widget-text-editor\" data-id=\"4930118\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Prevent disease, don\u2019t script lives<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a53f15 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"1a53f15\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<a class=\"elementor-element elementor-element-a57c633 e-con-full e-flex e-con e-child\" data-id=\"a57c633\" data-element_type=\"container\" data-e-type=\"container\" href=\"https:\/\/jtieuaffairs.brussels\/index.php\/2025\/12\/17\/long-delayed-lightly-grounded-the-tpd-evaluation-ands\/\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fb22ee4 elementor-widget elementor-widget-text-editor\" data-id=\"fb22ee4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Long delayed, lightly grounded: the TPD evaluation lands<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c15756 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6c15756\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t<div class=\"elementor-element elementor-element-a594749 elementor-widget elementor-widget-spacer\" data-id=\"a594749\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>home page \u2190 Buzz@Bruss! Edition #9 \u2190 Rethinking SFDR\u2019s direction: sustainable finance or selective finance? Recent proposals to amend the EU Sustainable Finance Disclosure Regulation (SFDR) contradict the regulation\u2019s underlying purpose and risk alienating important potential stakeholders. Buzz@Bruss! spoke to Tim Lin (TL), JT Group &#8211; Risk Management &amp; Capital Markets Director, to better understand [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[31],"class_list":["post-5690","post","type-post","status-publish","format-standard","hentry","category-non-classe","tag-9_2"],"_links":{"self":[{"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/posts\/5690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/comments?post=5690"}],"version-history":[{"count":46,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/posts\/5690\/revisions"}],"predecessor-version":[{"id":5921,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/posts\/5690\/revisions\/5921"}],"wp:attachment":[{"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/media?parent=5690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/categories?post=5690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jtieuaffairs.brussels\/index.php\/wp-json\/wp\/v2\/tags?post=5690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}