EU Floats Plans For More Green Financial Disclosures

Law360, London (September 18, 2020, 2:49 PM BST) -- The European Banking Authority has called on large credit institutions to respond to proposals for disclosing information on environmental risks in line with efforts to create "robust" policies for sustainable finance.

The EBA published an online survey Thursday for banks to complete, saying it wants to understand their future plans regarding Pillar 3 disclosures on environmental social governance, or ESG, risks. Pillar 3 regulation requires businesses to disclose details about their risk management policies and capital resources.

"The disclosure of information on ESG risks is one of the key components in the policy framework of sustainable finance," said the EBA, which also...

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