EC seeks advice from ESMA, EIOPA and EBA on disclosures from financial and non-financial undertakings under Article 8 of Taxonomy Regulation|Blogs

The European Commission has called on the European Supervisory Authorities (ESMA, EIOPA and the EBA) for advice on the content, presentation and methodology of the information to be disclosed by financial and non-financial undertakings under Article 8 of the Taxonomy Regulation. Article 8 requires undertakings covered by the Non-Financial Reporting Directive to publish information on how and to what extent their activities are associated with economic activities that qualify as environmentally sustainable under the Taxonomy Regulation. We summarise where the ESAs have got to so far in their consultations with stakeholders on this. The deadline for submitting their advice to the Commission is 28 February 2021.