The EBA advises on targeted simplifications to Taxonomy disclosures
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The EBA responds to the Commission's call for technical advice on the Article 8 Taxonomy Disclosures Delegated Act. It proposes removing the fees and commissions and trading book KPIs and simplifying group disclosures and credit institutions' Green Asset Ratio templates.
Key points
- Remove the fees and commissions KPI and the trading book KPI.
- Do not include non-financial undertakings' OpEx in financial undertakings' KPI calculations.
- Groups: use the parent's KPIs and, where relevant, KPIs for material secondary activities without aggregation.
- Limit grandfathering to bonds issued under the EU Green Bond Regulation.
Who is affected
Credit institutions and investment firms subject to Article 8 of the Taxonomy Regulation.
Deadlines
Advice submitted to the Commission for the review of the Delegated Act; no application date.
Plain-language version
The Taxonomy is the EU's official list of what counts as a 'green' activity. The EBA, the EU authority that sets the rules for banks, is advising the Commission to simplify what banks must publish about how green their business is: dropping some indicators and simplifying the Green Asset Ratio, the share of a bank's assets that are green. It is only advice so far, with no start date.
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