Legal & Regulatory News

EBA decision on ad hoc collection of institutions’ ESG data

On 18 July 2023, the European Banking Authority (EBA) published its decision dated 6 July 2023 concerning the ad hoc collection of institutions’ ESG data by competent authorities.

The decision will allow for national competent authorities and the EBA to have access to the necessary data and tools to fulfil their monitoring functions and ESG-related mandates. This data sharing will be discontinued once a supervisory reporting framework for ESG risks exists.

Although large institutions do provide Pillar 3 reporting in electronic form on their websites, the EBA explain that their reporting requirements are intended to ensure harmonisation and consistency in the collection of data.

Key points of this decision include:

• Competent authorities will request that institutions submit data in accordance with data exchange formats and representations specified by the competent authorities.
• The EBA may request data from institutions directly when data is not available to competent authorities.
• The data shall be submitted to the EBA on a semi-annual basis – with the reference dates set as 30 June and 31 December of each year.

The decision entered into effect immediately.

Click here to read the EBA decision.