The EBA Decision on ESG Data Collection

On 6 July 2023, the EBA invited the surveillance authorities of the Member States to collect the environmental, social and governance (ESG) data that large, listed institutions will be required to disclose through quantitative information on ESG risks.

Previously, institutions were not required to submit specific data related to ESG risk disclosures.

However, as the EBA itself has clarified, the collection of such data is necessary to provide the Member States’ competent authorities with the necessary information to monitor ESG risks and to assist the EBA in establishing a supervisory framework that effectively contributes to the transition towards a sustainable economy.

In any case, the EBA has stated that this approach is only provisional and that the ad hoc collection of ESG data does not replace the monitoring of ESG risks by national competent authorities.

Competent authorities will be required to report this information to the EBA on a semi-annual basis, with reference dates of 30 June and 31 December of each year.