More than two years on from the launch of the EU Sustainable Finance Disclosure Regulation (SFDR), SFDR continues to drive flows and the transition of non-ESG funds towards ESG in Europe and beyond. In this report, Goldman Sachs Research analysts assess large Article 8 and 9 funds to explore how they are tackling key requirements of SFDR, including article 8 & 9 classification, sustainable investment frameworks, principal adverse impacts, do no significant harm and good governance.