The European Central Bank (ECB) and the local prudential authorities have urged banks, insurers and pension funds to make swift improvements in translating their ESG strategy into the business operations. Failing clear results, the regulators will likely resort to more formal regulatory actions. The Dutch AFM and the Belgian FSMA have similar expectations, but also look at ESG disclosures and potential greenwashing in general. The 2022/2023 European Consultation on Greenwashing will likely trigger regulatory enforcement and product assessments and investigations.
Our team of experts will:
- Assist in the implementation of ECB/EBA and local regulators expectations
- Share knowledge in ESG expert sessions for C-level executives and tailored sessions
- Advise board members on ESG-related requirements and regulatory screening processes
- Assist in updating and drafting the internal governance documentation
- Perform regulatory surveys – how to respond to ESG-related information requests from the regulators
- Handle regulatory enforcement matters – how to respond to potential enforcement action in case of an alleged breach of ESG rules