Debate on sustainability reporting in Europe continues. On 31 December, the EU Council approved the EU Taxonomy Climate Delegated Act, part of the EU Action Plan on Sustainable Finance, enabling the regulation to take effect as of 1 January this year.
The European Banking Authority (EBA) has published its annual risk assessment of the European banking system for 2021.
The European Commission has announced, in a letter to the European Parliament and the Council of the EU, that implementation of the second stage of the Sustainable Finance Disclosure Regulation (SFDR) will be pushed back to 1 January 2023.
Europe’s Single Resolution Board (SRB) recently published its ‘Operational guidance for banks on separability for transfer tools.’
Those interested in the development of European sustainability reporting standards may like to get their teeth into a detailed five-month status report outlining activities and progress to-date, recently published by the European Financial Reporting Advisory Group (EFRAG).
The European Financial Reporting Advisory Group (EFRAG) is creating a new sustainability reporting pillar within its governance structure, alongside its existing financial reporting pillar, and as part of this process is therefore seeking new EFRAG Member Organisations.
The European Commission has opened a consultation on ‘Strengthening the quality of corporate reporting and enforcement.’ Taking a holistic perspective, it aims to address shortcomings in the underlying reporting ecosystem.
Europe is setting new rules on disclosures on financial products that seek to make sustainable investments, contributing to environmental objectives.
We missed some important news back in September, when the European Commission announced a comprehensive ‘review package’ of Solvency II rules.
The European Banking Authority (EBA) recently issued its annual work programme and strategic approach for 2022. It notes that it has streamlined its activities to foster synergies and efficiencies.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
