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ARTICLE · 12 MARCH 2024

ESG - Horizon Scanner Finance March 2024

Arthur Cox
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The EBA is carrying out a number of surveys and consultations in anticipation of some of the approximately 140 mandates that it will have under the upcoming EU Banking Package.

IrelandFinance and Banking
Arthur Cox
Arthur Cox
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BANKS: CLASSIFICATION OF EXPOSURES TO ESG RISKS

The EBA is carrying out a number of surveys and consultations in anticipation of some of the approximately 140 mandates that it will have under the upcoming EU Banking Package (CRR 3 and CRD 6, each of which has been provisionally politically agreed). In light of an expected 31 December 2024 deadline, the EBA launched a survey to collect qualitative input from credit institutions on their current and planned practices for identifying and qualifying exposures to ESG risks, including information on the availability and accessibility to the relevant data. The survey focuses on the (banking book) credit exposures of EU/EEA institutions. Exposure classes cover non-financial corporates, retail and non-retail small SMEs and households. The survey closes on 29 March 2024. Responses will feed into a related mandate for the EBA and EIOPA to look at introducing a standardised methodology for identifying and quantifying those

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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