The European Banking Authority releases online survey for support on ESG risks

The European Banking Authority (EBA) issued a online survey to credit institutions to offer guidance on the disclosure of information on environmental social governance (ESG) risks.

Its survey aims to support the EBA’s policy work on Pillar 3 disclosure and its wider efforts of building robust policy framework in sustainable finance. Pillar 3 is a requirement for firms to publicly release information regarding their risks, capital adequacy and policies for managing risk.

This survey is being sent to large credit institutions that will be required to disclose prudential information on ESG risks.

The EBA claims the disclosure of information on ESG risks is one of the core components in the policy frameworks of sustainable finance. It is seeking responses from credit institutions  to better understand current practices in the disclosure of information on ESG risks, as well as future plans for Pillar 3 disclosures on ESG risks.

EBA is using this to support the draft of its technical standards on Pillar 3 disclosure of prudential information on ESG risks and monitor the short-term expectations specified in the EBA Action Plan on Sustainable Finance.

A deadline for responses has been set for 16 October 2020.

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