The European Banking Authority (EBA) published a roadmap outlining its approach and objectives in the area of sustainable finance and environmental, social and governance (ESG) risks. The roadmap is to ensure a coordinated execution of the EBA’s mandate in this area over the next 3 years.

The aim is to include the ESG risks in the banking framework and to support the actions taken in the EU for the transition to a more sustainable economy. This is a continuation of the work carried out as part of the first EBA’s roadmap on sustainable finance, published in 2019.

The key objectives outlined in the EBA’s roadmap are related to areas such as transparency and disclosure of information on sustainability, institutions’ risk management and inclusion of ESG factors and risks in risk management, prevention of greenwashing, taking actions for the development of environmental standards and labels, or monitoring institutions’ sustainable finance and ESG risks, including on the basis of supervisory reporting.

More details:

https://www.eba.europa.eu/eba-publishes-its-roadmap-sustainable-finance

The full text of The EBA Roadmap on Sustainable Finance:

https://www.eba.europa.eu/sites/default/documents/files/document_library/Publications/Reports/2022/ESG%20roadmap/1045378/EBA%20Roadmap%20on%20Sustainable%20Finance.pdf