Legal & Regulatory News
EBA publishes report on management and supervision of ESG risks for credit institutions and investment firms
23 June 2021On 23 June 2021, the European Banking Authority (EBA) published its report, 'EBA Report on Management and Supervision of ESG Risks for Credit Institutions and Investment Firms', providing a comprehensive proposal on how ESG factors and risks should be included in the regulatory and supervisory framework for credit institutions and investment firms.
The report focuses on institutional resilience to potential financial impacts of ESG risks throughout different time horizons and indicates these institutions and supervisors should take a comprehensive and forward-looking view alongside early proactive actions. The report focuses on:
- the impact of ESG risks;
- recommendations to incorporate ESG risks-related considerations; and
- proposals for a phase-in approach.
Click here to access the full EBA Report.