This online survey supports the EBA mandate to develop draft implementing technical standards (ITS) specifying uniform disclosure formats, and associated instructions for the Pillar 3 disclosure of prudential information on ESG risks. These uniform disclosure formats aim to collect sufficiently comprehensive and comparable information, which will allow users to assess institutions’ risk profiles.
The online survey is run on a voluntary basis and is addressed to large institutions, which will be required to disclose prudential information on ESG risks according to Article 449a of the Capital Requirements Regulation (CRR). Credit institutions may reply to the survey until 18:00 CEST on 16 October 2020.
The feedback received will also be used to monitor the EBA’s short-term expectation specified in its Action Plan on Sustainable Finance.
Content and structure of the survey
The survey consists of three main parts:
- Part 1: general questions on the current status of ESG disclosure. This part includes general questions on ‘environmental’, ‘social’ and ‘governance’ issues. In particular for the ‘environmental’ aspects, the questions cover several initiatives, such as the EBA Action plan on sustainable finance, EU Taxonomy and the Commission’s non-binding guidelines on reporting of climate-related information.
- Part 2: questions on the interaction between Pillar 3 disclosure and policy initiatives. The focus of these questions is the interaction between institutions’ current practices with other policy initiatives such as non-financial reporting directive (NFRD) and the Commission’s non-binding guidelines on non-financial information, including the supplement on climate-related reporting.
- Part 3: forward-looking questions regarding the implementation of upcoming disclosure requirements as per Article 449a of the CRR. These questions focus exclusively on climate change, including transition and physical risks, and cover aspects on exposure classification, metrics and data availability.
You can access and reply to the online survey here. The EBA has also set up a dedicated email address ESG.firstname.lastname@example.org to support this initiative.
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