Sustainable Finance Disclosure Regulation

Effective since March 2021, the European wide framework SFDR aims to facilitate sustainable investments by making the sustainability characteristics of funds easier to compare and understand for investors. For further details, refer to the EU Sustainable Finance Disclosure Regulation page.

  • SFDR Level 1

Introduced in March 2021. Its most visible and impactful element was the classification of funds into three categories - Articles 6, 8 and 9 of the SFDR.

  • Article 6 funds: those that do not promote their environmental social or governance (ESG) characteristics.
  • Article 8 funds: where a financial product promotes, among other characteristics, environmental or social characteristics, or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
  • Article 9 funds: where a financial product has sustainable investment as its objective.


  • SFDR Level 2

From the 01 January 2023 asset managers and product providers must provide pre-contractual disclosure documents for Article 8 and Article 9 funds.

These new documents are intended to support customers across pensions, savings, and investment products understand the ESG (environmental, social, and governance) characteristics of Article 8 and 9 funds and how the fund manager will achieve the fund’s stated objectives.

These documents should be read in addition to other key literature relating to the products and funds range available from Standard Life. 

Where we have not received a document from the relevant Fund Manager for any funds designated as Article 8 or 9, we will publish these at the earliest opportunity.

SFDR documents