EBF CONSULTATION RESPONSE
EBF response to SEC climate disclosure requirements June 2022
BRUSSELS, 17th June 2022 – Please find below a few key points of the EBF response to the consultation:
- Need for the SEC to create an outcomes-based substituted compliance regime to allow foreign private issuers (FPIs) to rely on comparable home country requirements, and an option for both FPIs and U.S. registrants to use international standards as an alternative reporting mechanism
- Need to avoid changes in accounting policies (Section F)
- Need for the SEC to continue engaging with the ISSB and other jurisdictions’ standard setters to align global climate disclosure requirements
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About the EBF:
The European Banking Federation is the voice of the European banking sector, bringing together 32 national banking associations in Europe that together represent a significant majority of all banking assets in Europe, with 3,500 banks – large and small, wholesale and retail, local and international – while employing approximately two million people. EBF members represent banks that make available loans to the European economy in excess of €20 trillion and that reliably handle more than 400 million payment transactions per day. Launched in 1960, the EBF is committed to a single market for financial services in the European Union and to supporting policies that foster economic growth.
European Banking Federation
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
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