The importance of being transparent – key takeaways from the ECB review of disclosures on ESG risks / Sustainability

In April 2023 the ECB revealed its third evaluation of disclosure practices by establishments to handle climate-related and environmental dangers (C&E dangers).

In complete 103 vital in addition to 28 much less vital establishments have been assessed based mostly on their publicly accessible info as of finish 2021. Though the ECB acknowledges the progress establishments have made, the report nonetheless factors out a number of gaps and a scarcity of high quality in transparency. Nevertheless, the outcomes of the evaluation must be held in opposition to the continuing work by establishments over the past yr to succeed in compliance with pillar 3 disclosure necessities in keeping with article 449a of the Capital Necessities Regulation (CRR). We give a quick overview of the ECB’s report and put the outcomes into perspective for ongoing and deliberate actions by establishments.

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