This Discussion Paper provides a comprehensive proposal on how ESG factors and ESG risks could be included inthe regulatory and supervisory framework for credit institutions and investment firms. The paper identifies forthe first time common definitions of ESG risks, building on the EU taxonomy and an overview of currentevaluation methods. It also outlines recommendations for the incorporation of ESG risks into business strategies,governance and risk management as well as supervision.Download
The European Association of Public Banks (EAPB) welcomes the opportunity to comment on the draft Delegated Regulation on climate change mitigation and adaptation under Taxonomy Regulation. EAPB members actively contribute to achieving the EU’s climate and sustainability objectives by funding sustainable projects across Europe.Download
On 20 November 2020, the European Commission launched a public consultation on the draft Delegated Regulation that specifies the technical screening criteria under which specific economic activities qualify as contributing substantially to climate change mitigation and climate change adaptation and for determining whether those economic activities cause significant harm to any of the other relevant environmental objectives. Please find attached EAPB draft response to the public consultation. The draft position is based on the input received from EAPB members.Download
It makes sense to differentiate between NFU and FU as regards non-financial disclosure obligations of large companies provided for in Art. 8, taking into account their special fea-tures, as business activities and accounting differ. For FU, appropriate implementing rules depend on the type of taxonomy-compliant business activities. Securities transactions differ from credit provision.Download
ISDA, working with 12 other trades associations representing all corners of financial markets and including the EAPB, has published a paper expressing concern that the EU Benchmarks Regulation third country benchmarks regime transition period should be extended to end-2025. It is currently set to expire at the end of 2021. The European Parliament and EU Council of Ministers are in final negotiations on a revision of BMR, with the Council having supported an extension to end-2025 in its version of the draft text. The associations believe that this extension is urgently needed to prevent putting EU firms from being placed at a competitive disadvantage in global markets and to allow policy-makers to conduct a comprehensive review of the current third country regime under BMR.Download
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