EBA consultation on draft technical standards on Pillar 3 disclosures of ESG risks: EBF response
Publication date: 2 June 2021
Key messages
Please find below a few key points of the EBF response on the EBA consultation on draft technical standards on Pillar 3 disclosures of ESG risks:
- Article 8 reporting requirements should not be included in the Pillar 3 scope and only disclosed under the Taxonomy Regulation Delegated Act.
- ESG Pillar 3 content, scope, and frequency should be aligned with NFRD/ CSRD content, scope, and frequency.
- The ITS requirements should be simplified, aligned with the objective of public risk disclosures, and reflect the maturity of methodological developments as well as the availability of relevant and reliable data. A meaningful reporting to supervisors/survey should be explored until robust methodologies for banks are developed at the EU level.
- The disclosures should focus on the exposures of the banking book which represent the vast majority of banks’ risks.
- We recommend that EBA develops a Pillar 3 approach by building blocks. It should commence with a limited number of ‘core’ templates based on available and high-quality data and methodologies and gradually, the level of granularity should be adapted.
For more information:
Denisa Avermaete, Senior Policy Adviser, Sustainable Finance, d.avermaete@ebf.eu
Eleni Choidas, Policy Adviser, Sustainable Finance, e.choidas@ebf.eu
About the EBF:
The European Banking 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. The EBF serves as the voice of the European banking sector, bringing together national banking associations from across Europe. Website: www.ebf.eu Twitter: @EBFeu.
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