The company has in focus developments by the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and other regulatory bodies. The new solution standardises the process of integrating ESG data attributes, such as counterparty exposures, climate risk reference data and social impact data, with existing financial reference data in a common data dictionary to streamline ESG reporting for financial institutions.
The EBA has led the way on ESG reporting requirements for financial institutions with its proposed draft technical standards, which provide a framework for disclosing how climate change may exacerbate other risks within institutions’ balance sheets, how institutions are mitigating those risks, and their green asset ratio on exposures financing taxonomy-aligned activities, such as those consistent with the Paris agreement goals.
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