On 17 September 2020, the European Banking Authority (EBA) published an online survey to receive input from credit institutions on their practices and views in the area of disclosure of information on environmental, social and governance (ESG) risks. The survey, which is addressed to large credit institutions that will be required to disclose prudential information on ESG risks, aims to support the EBA’s policy work on Pillar 3 disclosure and its wider efforts to develop a robust policy framework in the area of sustainable finance.
The online survey is part of the EBA’s work to develop draft implementing technical standards (ITS) on Pillar 3 disclosure of prudential information on ESG risks by institutions. The EBA is mandated to produce these ITS under Articles 434a and 449 of the Capital Requirements Regulation. It will also be used to monitor the short-term expectations specified in the EBA Action Plan on Sustainable Finance, including the request for institutions to identify metrics, covering a green assets ratio, that provide transparency on how they are embedding climate change related risks into the organisation.
The deadline for the call for input is 16 October 2020.