We are relying on other irregulations. For example, i beforea the the paris alin ment mark revelation. And we are taking the same classification that er it is required under the climate bench mark regulations in order to be consistent across cosifina buses of regulation. But notablatis, jutilities, e olangaser, mining, manufacturing, and you mention bones at one point. I just wondered, you know, in terms of things like market and underwriting exposure, to what extent are you going to be looking at that? So for the moment, we are focusing on the banking book.
Regulation is increasingly shaping the agenda for environmental, social and governance-focused investors. In many parts of the world, regulators are working to bring clarity to an often-confusing ESG market amid an alphabet soup of different voluntary frameworks.
The European Banking Authority, which oversees EU banks, is one such regulator. Earlier this year, it said it will ask banks to disclose information on climate risks and their plans to address those risks from 2023. For this episode of the ESG Insider podcast, we interviewed Pilar Gutierrez, Head of Reporting and Transparency at the EBA, about the new standards, how they fit with a push for more standardized reporting internationally, and what improvements banks will have to make.
“Many corporates or banks are already providing disclosure reports on nonfinancial information according to the TCFD recommendations,” Pilar tells us. “But when assessing these reports, we still observe growth for improvement in terms of consistency and comparability of the disclosures.”
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