EBA · 2022_6490 Rejected question

Template 1: banking book (prudential disclosures on ESG risks)

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
449a
Topic
Transparency and Pillar 3
Submitted by
Industry association
Submitted
2022-06-21
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Question

Is it correct that the institutions shall only use NACE codes to classify the gross carrying amounts, and this is different from the scope in the reporting according to Article 8 of the Disclosures Delegated Act where the reference to NACE sectors is only indicative?

Background

The scope seems to be different from the Article 8 reporting obligation. In the Draft Commission notice on the interpretation of certain legal provisions of the Disclosures Delegated Act under Article 8 of EU Taxonomy Regulation on the reporting of eligible economic activities and assets from February 2022 it follows on page 5: “The reference to NACE sectors in the Climate Delegated Act is only indicative and not necessarily exhaustive. Therefore, an economic activity could match the description of an activity and the technical screening criteria laid out the Climate Delegated Act (Annexes I and II thereof) even if the NACE sector of the company is not listed in the relevant section of the Climate Delegated Act.”
No answer published yet.

Original source: European Banking Authority, Q&A ID 2022_6490

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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