On 16 April 2025, the Commission adopted (i) its Communication establishing non-binding guidelines for pre-issuance disclosures (and templates) and (ii) delegated acts (and templates) relating to the post-issuance disclosures, under the voluntary disclosure regime of the EU Green Bond Regulation.
By way of reminder, the EU Green Bond Regulation establishes (i) an official label for issuers that can meet the stringent requirements of the EU Green Bond Standard and (ii) creates a standalone voluntary disclosure regime for bonds marketed as environmentally sustainable and sustainability-linked bonds.
Next steps:
The delegated acts pertaining to the voluntary post-issuance disclosures are up for review.
If there are no comments from the European Parliament and the Council of the EU, the scrutiny period will end on 16 July 2025 and the delegated acts will be published in the Official Journal in the weeks thereafter.
The official publication of the Commission Guidelines relating to the voluntary pre-issuance disclosures will follow after the scrutiny period applicable to the delegated acts (i.e. 16 July 2025).
We expect these Guidelines will also be published in the Official Journal in the weeks after the scrutiny period has ended.
For more detail on the European Green Bond Regulation, see our:
- EU Green Bond Regulation Hub
- earlier blog post and
- our podcast series, including episode four, which explains the voluntary disclosure regime for bonds marketed as environmentally sustainable and sustainability-linked bonds in a nutshell.