On 5 August 2025, the European Banking Authority (EBA) issued an Opinion – submitted to the European Commission’s Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) as a No-Action letter – addressing the application of Pillar III ESG disclosure requirements under the EBA disclosure Implementing Technical Standards (ITS).
The Opinion is issued in light of the uncertainties surrounding the implementation timeline of the revised ESG disclosure requirements under the Capital Requirements Regulation and the Omnibus proposal package.
In its Opinion, the EBA recommends that, for the period starting from 30 June 2025 until the amendments to the EBA disclosure ITS are adopted and enter into force:
Through the Opinion, The EBA intends to reduce the operational burden for institutions amid the evolving EU sustainability regulations, highlighting the importance of clarity and consistency in ESG disclosures.
Since the launch of the ENGAGE for ESG initiative in November 2022, the EU ESG regulatory landscape has evolved significantly. The ENGAGE Consortium is steadily monitoring regulatory changes and aims to develop the ENGAGE Solutions alongside such changes to ensure alignment with new requirements as they arise.
To read the EBA’s press release, please click the button below.
To achieve the proposed 55% emission reduction climate target by 2030, around EUR 275 billion of additional investments are needed per year.
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