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In January 2025, the European Banking Authority (EBA) released final guidelines on managing environmental, social, and governance (ESG) risks.
- Purpose: These guidelines specify the minimum standards for financial institutions to identify, measure, and manage ESG risks over short-, medium-, and long-term horizons including a time horizon of at least 10 years.
- Support for EU Goals: The guidelines support the EU’s goal of achieving net-zero emissions by 2050, as outlined in Regulation (EU) 2021/1119.
- International Alignment: The guidelines also align with third-country legal and regulatory requirements for internationally active institutions, in accordance with Article 87a(5)(b) of that Directive.
How should institutions assess and manage ESG risks?
Institutions should conduct regular assessments and use methods like exposure- and scenario-based approaches to identify and manage ESG risks, integrating them into their overall risk management framework.
How should ESG risks be embedded in institutional processes?
ESG risks should be integrated into processes such as risk appetite, internal controls, ICAAP, and monitored through effective reporting and ESG metrics.
When will the EBA’s ESG risk guidelines take effect?
The guidelines take effect on January 11, 2026, for all institutions except small and non-complex ones, which must comply by January 11, 2027.
How do environmental risks impact institutions, and what processes should be in place to manage them?
- Environmental risks, including transition and physical risks, can significantly impact the stability of institutions by affecting all traditional financial risks, such as credit, market, and operational risks.
- To ensure long-term resilience, the guidelines require institutions to implement robust internal processes and ESG risk management arrangements.
What should institutions do to address transition risks and how should the EBA guidelines be applied according to EU laws?
- Institutions should create plans to manage risks related to the transition to ESG regulations, ensuring alignment with EU requirements and relevant legislation.
- The EBA guidelines related to ESG risks must be followed by competent authorities and financial institutions, in accordance with specific EU rules, including Article 109 of Directive 2013/36/EU, Regulation (EU) No 1093/2010, and Regulation (EU) No 575/2013.
Access the full publication here [ 3105 kb ].
Authors:
Andreas Spyrides, Quantitative Risk Services Leader
Maria Yiasouma, Manager, Quantitative Risk
Kyveli Kyriacou, Consultant, Quantitative Risk
Ioanna Stavrou, Assistant Consultant, Quantitative Risk
