On 30 November 2022, the European Commission adopted an Implementing Regulation amending the implementing technical standards laid down in Implementing Regulation 2021/637 as regards the disclosure of environmental, social and governance (ESG) risks together with Annex 1 and Annex 2.
Commission Implementing Regulation (EU) 2021/6372 specifies uniform disclosure formats and associated instructions for the disclosures required under Titles II and III of the Capital Requirements Regulation (CRR). The CRR was amended by Regulation (EU) 2019/8763, which introduced a new Article 449a. That Article requires large institutions that have issued securities that are admitted to trading on a regulated market of any Member State to disclose, as from 28 June 2022, information on ESG risks, including physical risks and transition risks. That amendment to the CRR should be reflected in Commission Implementing Regulation (EU) 2021/637, which should set out, in addition to the existing uniform disclosure formats and associated instructions, additional uniform disclosure formats and associated instructions for the disclosures of ESG risks.
The Implementing Regulation enters into force on the twentieth day following that of its publication in the Official Journal of the European Union.