Background: 
The EU sustainable finance regulatory regime involves a broad range of requirements for banks to disclose their sustainability performance. This includes details on double materiality impacts, risks, and opportunities, as stipulated by various legislative frameworks such as the EU Taxonomy Regulation, and more recently, the Corporate Sustainability Reporting Directive (CSRD) with its European Sustainability Reporting Standards (ESRS). This information serves multiple compliance purposes and depends significantly on data from downstream third parties— clients, customers, and stakeholders— which is often not easily accessible. 

Compliance with the CSRD/ESRS has become a top priority for banks in Europe and beyond due to its specific requirements and extraterritorial impact. UNEP FI has been actively involved in this process, collaborating with EU regulators from a policy and regulatory perspective, utilizing the UNEP FI framework and methodology to align on impact materiality, and participating in the EFRAG Banking Advisory Panel to develop finance sector standards. 

Description of activities: 
UNEP FI’s new implementation programme of members-only webinars will feature key aspects of CSRD/ESRS implementation, particularly focusing on the challenges banks face at different stages in the process. These tailored sessions will empower members with practical guidance to dive deeper into key regulatory issues and discover how to apply to their own institution. 

The programme will include the following:

  • a technical introduction to CSRD/ESRS with clarifying elements related to its scope, applicability, timelines and interconnections with other standards and regulatory frameworks.  
  • a session on impact and financial materiality, showcasing how to streamline these processes, including how to fully utilize UNEP FI’s impact tools.
  • concrete thematic and data sessions, looking into specific needs and regulatory requirements to clarify key issues, including, but not limited to transition plans, data gathering, and more. 

The programme will kick off in September. If you are a UNEP FI member, visit the UNEP FI Members’ Area for more details and to register for upcoming sessions. For questions, please reach out to Daniel Bouzas, Regional Lead for Europe, and Guilherme Cassaro, CSRD Implementation and Regulatory Engagement Expert.