EBA seeks industry input on sustainability exposure classifications

Posted on February 10, 2024 by Editor

The European Banking Authority (EBA) has launched an industry survey, inviting credit institutions to contribute insights into their methodologies for classifying exposures to environmental, social, and governance (ESG) risks.

The EBA aims to gather qualitative information on current practices, informing potential standardised methodologies for identifying and qualifying ESG risk exposures. The survey also assesses the accessibility and availability of ESG data.

From our interactions with banks in particular, it is clear that financial institutions struggle to balance reliability, rigour, timeliness and coverage provided by a wide range of external commercial data sources that provide information about their portfolios but that themselves necessarily rely on uneven inputs. The introduction of mandatory digital disclosures for corporates, using consistent standards and obliging external assurance will be an important step forward.

The deadline for responses is 29 March 2024.

Institutions interested in participating can find more details on the survey here.

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