LegalizeCommission Implementing Regulation (EU) 2022/2453 of 30 November 2022 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/637 as regards the disclosure of environmental, social and governance risks (Text with EEA relevance)
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
| 1. | Institutions shall use the following instructions to disclose the information required in ‘Template 2: Banking book – Indicators of potential climate change transition risk: Loans collateralised by immovable property – Energy efficiency of the collateral’, as set out in Annex XXXIX to this Regulation. | |
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| 2. | Directive 2010/31/EU of the European Parliament and of the Council 26 and Directive 2012/27/EU of the European Parliament and of the Council 27 promote policies that aim to achieve a highly energy efficient and decarbonised building stock by 2050. Directive 2010/31/EU introduced the Energy performance certificates (EPC) as instruments for improving the energy performance of buildings. Those certificates are referred to as a certificate recognised by a Member State or by a legal person designated by it, which indicates the energy performance of a building or building unit, calculated in accordance with that Directive. | |
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| 3. | This template shows the gross carrying amount, as referred to in Part 1 of Annex V to Implementing Regulation (EU) 2021/451, of loans collateralised with commercial and residential immovable property and of repossessed real estate collaterals, including information on the level of energy efficiency of the collaterals measured in terms of kWh/m2 energy consumption (columns (b) to (g) of the template), in terms of the label of the energy performance certificate (EPC) of the collateral as referred to in Article 2, point (12), of Directive 2010/31/EU for Member States, or as defined in any relevant local regulation for those exposures outside the Union, where a mapping to the Union EPC label exists (columns (h) to (n)). | |
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| 4. | In particular, in columns (b) to (g), institutions shall disclose the gross carrying amount of exposures by energy efficiency buckets based on the specific energy consumption of the collateral in kWh/m2, as indicated in the EPC label of the collateral or estimated by institutions in the absence of the EPC label. Institutions shall indicate in rows 5 and 10 of the template the extent to which those data are estimated and not based on EPC labels. In columns (h) to (n), institutions shall disclose the gross carrying amount of exposures grouped by the EPC label of the collateral for those collaterals where the EPC is available to the institution. | |
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| 5. | When disclosing the EPC distribution of the collaterals, institutions shall disclose separately, in column (o), those exposures for which they do not have the EPC information of the collateral. Where institutions do not have the EPC information, but are using internal calculations to estimate the energy efficiency of the collateral, institutions are to disclose the percentage of the exposures without EPC label of the collateral for which they are providing estimates (the percentage is to be computed based on the gross carrying amount of the exposures). Institutions shall disclose the total gross carrying amounts by energy consumption level and by EPC label, with a breakdown by location (Union vs non-Union area) differentiating between loans collateralised by commercial immovable property, loans collateralised by residential immovable property and collateral obtained by taking possession. | |
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| 6. | In the case of exposures to entities located in third countries where there is no EPC label equivalent, institutions shall leave columns (h) to (n) blank. However, institutions shall disclose the information required in columns (o) and (p) and, when relevant, columns (b) to (g) with estimated data. | |
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| 7. | For those exposures linked to more than one collateral, such as two immovable properties, the energy efficiency information of the properties linked to the exposure shall be split and disclosed separately under energy efficiency levels (both for the KWh/m2 of the collateral, columns (b) to (g), and for the EPC label, columns (h) to (n) corresponding to energy efficiency of each collateral). More specifically, institutions shall calculate the share of each collateral in the gross carrying amount of exposure based on the value of the collateral and disclose under the energy efficiency bucket linked to each collateral. For example, the institution has a loan with a gross carrying amount of EUR 100 000 collateralised by two properties: property A and property B. Property A has a collateral value of EUR 80 000 and EPC label A, while property B has a collateral value of EUR 70 000 and EPC label D. In this example, institutions should disclose EUR 53 333 (that is EUR 100 000 * [80 000/(80 000 + 70 000)] under EPC label A and EUR 46 667 (that is EUR 100 000 * [70 000/(80 000 + 70 000)] under EPC label D, both corresponding to the specific loan in question. |
Template 3: Banking book – Indicators of potential climate change transition risk: Alignment metrics. Flexible format (fixed columns, flexible rows).
| 1. | Institutions shall use the following instructions to disclose the information required in ‘Template 3: Banking book – Indicators of potential climate change transition risk: Alignment metrics’, as set out in Annex XXXIX to this Regulation. | |
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| 2. | Institutions shall disclose in this template information on their alignment efforts with the objectives of the Paris Agreement for a selected number of sectors. The disclosures on the alignment shall capture the extent to which financial flows are consistent with a pathway towards low greenhouse gas emissions and climate-resilient development as referred to in the Paris Agreement. The economic scenario that describes that decarbonisation pathway is the International Energy Agency (IEA) Net Zero Emissions by 2050 Scenario (NZE2050) 28. Institutions shall take into account that scenario. Given that the IEA provides scenarios at global level and some specific metrics at European level, institutions are to measure the distance from the IEA scenario benchmarks at global level and, where the specific European level metrics are available, at European level. | |
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| 3. | Institutions that are already estimating information on their sectoral alignment to the Paris Agreement shall disclose the information in this template. Institutions are to explain in the narrative part accompanying the template the method used and the data source. Those institutions that are not yet estimating their sectoral alignment shall disclose information on their plans to implement a method to estimate and disclose that information. In any case, institutions shall start disclosing the information included in this template with first disclosure reference date as of 30 June 2024. | |
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| 4. | Institutions shall disclose in this template: (a) Columns (a) and (b): these columns contain the sectors (IEA sectors) in column (a) under which rows 1-8 list the mandatory minimum set of sectors, and subsectors (NACE sectors in column (b) according to the minimum ‘list of NACE sectors to be considered’ as indicated in the template). (b) Where the institution’s counterparty is a holding company, institutions shall consider the NACE sector of the specific obligor controlled by the holding company (if different from the holding company) which receives the funding rather than that of the holding company, particularly in those cases where the obligor is a non-financial corporate. Similarly, where the direct counterparty of the institution (the obligor) is a special purpose vehicle (‘SPV’), institutions shall disclose the relevant information under the NACE sector associated with the economic activity of the parent company of the SPV. (c) The classification of the exposures incurred jointly by more than one obligor shall be based on the characteristics of the obligor that was the more relevant, or determinant, for the institution to grant the exposure. Institutions shall disclose information by NACE codes with the level of granularity required in column (b). (d) Column (c): the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451 of those exposures towards non-financial corporates in each of the sectors specified in columns (a) and (b), including loans and advances, debt securities and equity instruments, classified in the accounting portfolios in the banking book in accordance with that Implementing Regulation, excluding financial assets held for trading or held for sale assets. (e) Columns (d) and (e): alignment metric(s) applied by the institution and closest year of reference for the alignment metric(s) for each sector. Institutions shall use the alignment metric(s) that can be measured against the Net Zero Emissions by 2050 Scenario (NZE2050). Institutions are to ensure that the metrics allow to comprehensively disclose the institutions’ financed production capacities and encompass all relevant carbon-intensive financed activities. Some sample metrics are included in the template. Institutions are to disclose several metrics for each sector that is relevant to their financing activity. These are to cover emission intensity metrics, technology mix-based metrics and production-based metrics. Institutions are to rely on the assessment of the underlying assets and activities linked to the financial instruments. For loans whose use of proceeds is known, the value shall be included for the relevant sector and alignment metric. For loans whose use of proceeds is unknown, the gross carrying amount of the exposure shall be allocated to the relevant sectors and alignment metrics based on the counterparties’ activity distribution, including by counterparties’ turnover by activity. Institutions shall add a row in the template for each relevant combination of sectors disclosed in column (b) and alignment metrics included in column (d). (f) Column (f): the point in time distance of the column (d) metric(s) to the 2030 data points of the Net Zero Emissions by 2050 Scenario (NZE2050), shall be expressed in percentage points. That distance shall represent the current degree of alignment with the scenario indicator for 2030 and shall be expressed as the difference between the indicator in column (d) and the IEA scenario projection for 2030, divided by the scenario benchmark indicator and converted into percentage terms. Institutions can find the relevant information and the applicable scenario indicators for 2030 per sector on the IEA website. In particular, institutions shall refer to the “Net Zero by 2050 – A Roadmap for the Global Energy Sector” that the IEA publish on an annual basis 29. The specific data points and indicators can be downloaded from the excel table included in the Net Zero by 2050 Scenario designed by the International Energy Agency The exposures’ underlying activities shall be considered aligned where the level of the indicator is below that of the benchmark for decreasing benchmarks (carbon intensive activities) or above for increasing benchmarks (low carbon activities); Image omitted; see official source (g) Column (g): institutions’ target for 3 years after the year of reference indicated in column (e) and the alignment metric indicated in column (d). Column (g) shall indicate the portfolio alignment path and targets that institutions plan to achieve to remain on track with the IEA scenario in the long term. |
Template 4 – Banking book – Indicators of potential climate change transition risk: Exposures to top 20 carbon-intensive firms. Fixed format
| 1. | Institutions shall use the following instructions to disclose the information required in ‘Template 4: Banking book – Indicators of potential climate change transition risk: Exposures to top 20 carbon-intensive firms, as set out in Annex XXXIX to this Regulation. | |
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| 2. | Institutions shall disclose in this template aggregate information on exposures towards the most carbon-intensive counterparties in the world. They shall include aggregated and anonymised information on the gross carrying amount of exposures towards up to 20 counterparties that are among the top 20 most carbon-intensive corporates worldwide. Information shall be based on publicly available reputable and accurate information. Examples of data sources to identify the top carbon-intensive companies include the Carbon Majors Database and Reports of the Carbon Disclosure Project and Climate Accountability Institute as well as Thomson Reuters. | |
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| 3. | Institutions shall disclose in the narrative accompanying the disclosure the source of the data they use. Where institutions are not able to identify exposures towards the top 20 carbon-intensive firms in the world, they shall explain why they have not indicated such exposures, including in the case in which they do not have any exposures towards the top 20 carbon-intensive firms in the world. Column Instructions a Gross carrying amount (aggregate) Gross carrying amount has the meaning referred to in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. It includes loans and advances, debt securities and equity instruments, classified under the accounting portfolios in the banking book according to that Implementing Regulation, excluding financial assets held for trading and held for sale assets. Institutions shall include the aggregate exposures towards up to 20 counterparties of the institution that are among the top 20 most carbon-intensive corporates worldwide. b Gross carrying amount towards the company compared to total gross carrying amount (aggregate) Institutions shall disclose the percentage resulting from the aggregate gross carrying amount indicated in column (a), divided by the total gross carrying amount of the institutions’ exposures in the banking book, as referred to in Part 1 of Annex V to Implementing Regulation (EU) 2021/451, including loans and advances, debt securities and equity instruments in the banking book, classified under the accounting portfolios in the banking book in accordance with that Implementing Regulation, excluding financial assets held for trading and held for sale assets. c Of which environmentally sustainable (CCM) Institutions shall disclose the aggregate gross carrying amount of environmentally sustainable exposures contributing to the objective of climate change mitigation. That amount shall be based on the purpose of the activity funded, for special purpose lending, or on the counterparty’s information on the level of alignment of its economic activities with Regulation (EU) 2020/852, for the objective of climate change mitigation (% of turnover contributing substantially to climate change mitigation). Institutions shall start disclosing this information with first disclosure reference date as of 31 December 2023. d Average maturity Institutions shall disclose the average maturity of the exposures considered in the computation weighted by the gross carrying amount of the exposure. e Number of top 20 polluting firms included Institutions shall indicate the number of top polluting companies included in the calculation of the aggregate gross carrying amount. |
Template 5 – Banking book – Indicators of potential climate change physical risk: Exposures subject to physical risk. Fixed format.
| 1. | Institutions shall use the following instructions to disclose the information required in ‘Template 5: Banking book – Indicators of potential climate change physical risk: Exposures subject to physical risk’, as set out in Annex XXXIX to this Regulation. | |
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| 2. | Institutions shall include in this template information on exposures in the banking book, including loans and advances, debt securities and equity instruments not held-for-trading and not held-for-sale, towards non-financial corporates, on loans collateralized with immovable property and on repossessed real estate collaterals, exposed to chronic and acute climate-related hazards, with a breakdown by sector of economic activity (NACE classification) and by geography of location of the activity of the counterparty or of the collateral, for those sectors and geographical areas subject to climate change acute and chronic events. | |
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| 3. | For the identification of geographies prone to specific climate-related hazards, institutions shall use dedicated portals and databases. To obtain information on the characteristics of locations sensitive to climate-change events, institutions may use the data offered by Union bodies and by national government authorities including meteorological, environmental, statistical agencies or geoscience organisations. Examples of data sources to identify geographical areas subject to climate change related hazards include [^ntr*20-L_2022324EN.01001602-E0020]: GFDRR – ThinkHazard! (covering heatwaves, water scarcity and stress, floods, wildfires, hurricanes, landslide); PREP – PREPdata (coastal flood, extreme heat, landslide, water scarcity and stress, wildfire); WRI – Aqueduct Water Risk Atlas (flood, coastal flood, water scarcity and stress) Swiss Re – CatNet® (flood, tropical cyclone (hurricane &typhoon), wildfire); World Bank – Climate Change Knowledge Portal (extreme heat, extreme precipitation, drought); PCA – Global Drought Risk platform (drought); NOAA – Historical hurricane tracks (tropical cyclone (hurricane &typhoon). | |
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| 4. | When the counterparty is a holding company, institutions shall consider the NACE sector of the specific obligor controlled by the holding company (if different than the holding company itself) which receives the funding, particularly in those cases where the obligor is a non-financial corporate. Similarly, where the direct counterparty of the institution (the obligor) is an SPV, institutions shall disclose the relevant information under the NACE sector associated with the economic activity of the parent company of the SPV. The classification of the joint exposures towards more than one obligor shall be based on the characteristics of the obligor that was the most relevant for the institution to grant the exposure. The distribution of jointly incurred exposures by NACE codes shall be driven by the characteristics of the more relevant or determinant obligor. | |
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| 5. | Institutions shall disclose the information in this template on a best effort basis and explain in the narrative accompanying the template the sources of information and methods that they have used to identify exposures subject to climate-change physical risk. Columns Instructions a Geographical area subject to climate change acute and chronic events Institutions shall cover geographical areas exposed to adverse impact from climate-change physical events. These geographical areas include the countries or other geographical or administrative regions where the counterparty’s activities or the collateral are located, and which are exposed to chronic or acute climate-change events. For geographical coverage of the exposures, institutions shall use the level of divisions indicated in Nomenclature of Territorial Units for Statistics (or NUTS), as appropriate. b Gross carrying amount Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451 of those exposures towards non-financial corporates (including loans and advances, debt securities and equity instruments), classified under the accounting portfolios in the banking book in accordance with that Implementing Regulation, excluding financial assets held for trading and held for sale assets. c – o of which exposures sensitive to impact from climate change physical events Institutions shall disclose the gross carrying amount of exposures prone to impact from climate change physical events. The gross carrying amount of exposures prone to impact from climate change physical events may be equal to the full exposure amount disclosed in column (b) of this template or may be a part of that exposure amount. c – g Breakdown by maturity bucket Institutions shall allocate the exposures to the relevant bucket depending on the residual maturity of the financial instrument, taking into account the following: (a) where the amount is to be repaid in instalments, the exposure shall be allocated in the maturity bucket corresponding to the last instalment; (b) where an exposure has no stated maturity for reasons other than the counterparty having the choice of the repayment date, the amount of this exposure shall be disclosed in column ‘> 20 years’; (c) to compute the average maturity of the exposure, institutions shall weigh the maturity of each exposure by the gross carrying amount of the exposures. h of which exposures sensitive to impact from chronic climate change events Institutions shall disclose the gross carrying amount of exposures sensitive to impact from chronic climate-change events only, including hazards relating to gradual changes in weather and climate and having a possible impact on economic output and productivity. i of which exposures sensitive to impact from acute climate change events Institutions shall disclose the gross carrying amount of exposures sensitive to impact from acute climate change events only, including hazards that may cause sudden damage to properties, disruption of supply chains, and depreciation of assets. j of which exposures sensitive to impact both from chronic and acute climate change events Institutions shall disclose the gross carrying amount subject to impact from both chronic and acute climate change events, referred to in columns (h) and (i). k Of which stage 2 Institutions applying IFRS shall disclose the gross carrying amount of ‘Stage 2’ instruments as defined in IFRS 9. The columns on ‘Of which stage 2’ shall not be disclosed by institutions that apply national generally accepted accounting principles based on Directive 86/635/EEC. l Of which non-performing exposures Institutions shall disclose the gross carrying amount of non-performing exposures as referred to in Article 47a(3) Regulation (EU) No 575/2013, which are prone to impact from climate change events. m, n, o Accumulated impairment, accumulated negative changes in fair value due to credit risk and provisions Institutions shall disclose the amounts referred to in Part 2, points 11, 69, 70, 71, 106 and 110, of Annex V to Implementing Regulation (EU) 2021/451. n of which Stage 2 exposures Column (m) shall contain the accumulated impairment amount of stage 2 exposures. Institutions applying IFRS shall disclose the gross carrying amount of ‘Stage 2’ instruments as defined in IFRS 9. The columns on ‘Of which stage 2’ shall not be disclosed by institutions that apply national generally accepted accounting principles based on Directive 86/635/EEC. o of which non-performing exposures Institutions shall disclose the amount of the accumulated impairment, accumulated negative changes in fair value due to credit risk and provisions attributable to non-performing exposures, as referred to in Article 47a(3) Regulation (EU) No 575/2013. |
Template 6 – Summary of key performance indicators (KPIs) on the Taxonomy-aligned exposures. Fixed format.
| 1. | Institutions shall provide in template 6 an overview of the KPIs calculated on the basis of templates 7 and 8 of Annex XXXIX, including the green asset ratio (GAR) as referred to in Commission Delegated Regulation (EU) 2021/2178 31 | |
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| 2. | While Delegated Regulation (EU) 2021/2178 requires entities to estimate and disclose the GAR twice, once based on the turnover taxonomy alignment of the counterparty (for non-financial corporates) for those exposures the purpose of which is not to finance specific identified activities (general purpose lending), and again based on the capital expenditure (CapEx) taxonomy alignment of the counterparty for the same general purpose lending exposures, in this template institutions shall only disclose the GAR once, based on the turnover alignment of the counterparty for the general purpose lending part only. | |
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| 3. | For the stock, GAR (climate change mitigation), GAR (climate change adaptation), GAR (climate change mitigation and climate change adaptation) shall correspond to the KPI included in columns (b), (g) and (l) respectively of Template 8, accordingly. Similarly, for the flow, GAR (climate change mitigation), GAR (climate change adaptation), GAR (climate change mitigation and climate change adaptation) shall correspond to the KPI included in row 1, columns (r), (w) and (ab) of the same Template 8. | |
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| 4. | Information on the coverage shall be included in Template 8, row 1, column (p) for GAR stock, and (af) for GAR flow. | |
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| 5. | Institutions shall disclose this information with first reference date as of 31 December 2023, which is in line with the first reference date for the disclosure of the information on the GAR referred to in Delegated Regulation (EU) 2021/2178. |
Template 7 – Mitigating actions: Assets for the calculation of GAR. Fixed format
| 1. | Institutions shall use the following instructions to disclose the information required in ‘Template 7 – Mitigating actions: Assets for the calculation of GAR’, as set out in Annex XXXIX to this Regulation. | |
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| 2. | Institutions shall disclose in this template information on gross carrying amount of institutions’ loans and advances, debt securities and equity instruments on their banking book, with a breakdown of the information by type of counterparty, including financial corporations, non-financial corporations, households, local governments as well as real estate lending towards households, and the taxonomy eligibility and taxonomy alignment of the exposures with regard to the environmental objectives of climate change mitigation and climate change adaptation as referred to in Article 9, points (a) and (b), of Regulation (EU) 2020/852. | |
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| 3. | In particular, institutions shall include in this template information necessary for the calculation of the GAR in accordance with Delegated Regulation (EU) 2021/2178. While Delegated Regulation (EU) 2021/2178 requires institutions to estimate and disclose the GAR twice, once based on the turnover taxonomy alignment of the counterparty (for non-financial corporates) for those exposures the purpose of which is not to finance specific identified activities (general purpose lending), and again based on the CapEx taxonomy alignment of the counterparty for the same general purpose lending exposures, in this template institutions shall only disclose the GAR once based only on the turnover alignment of the counterparty for the general purpose lending part. | |
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| 4. | Based on that information, institutions shall calculate and disclose their GAR as referred to in Delegated Regulation (EU) 2021/2178. The information included shall relate to climate change mitigation and climate change adaptation as referred to in Article 9, points (a) and (b), of Regulation (EU) 2020/852. | |
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| 5. | Institutions shall disclose this information with first reference date as of 31 December 2023 that is the first disclosure reference date for the information on the GAR as referred to in Delegated Regulation (EU) 2021/2178. Columns Instructions a Gross carrying amount Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. b Of which: towards taxonomy relevant sectors Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall disclose the gross carrying amount of eligible exposures towards sectors (4 level NACE codes) relevant for the corresponding environmental objective according to the Taxonomy, as specified in Annex I to the Commission Delegated Regulation (EU) 2021/213932. Institutions shall disclose exposures towards relevant sectors under the objective of climate change mitigation in accordance with Article 9, point (a), and Article 10 of Regulation (EU) 2020/852. c Of which: environmentally sustainable Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall disclose the gross carrying amount of eligible exposures that are environmentally sustainable, as specified in the Annex I to Delegated Regulation (EU) 2021/2139. Institutions shall disclose environmentally-sustainable exposures under the objective of climate-change mitigation in accordance with Article 9, point (a), and Article 10 of Regulation (EU) 2020/852. When the use of proceeds is known (specialised lending, including project finance loans, as referred to in Annex V to Implementing Regulation (EU) 2021/451), institutions shall disclose the extent to which the exposure is environmentally-sustainable. Such disclosure is based on the extent which the funded project substantially contributes to climate change mitigation, in accordance with Article 10 of Regulation (EU) 2020/852, or is an enabling activity in accordance with Article 16 of that Regulation, and meets the criteria specified in Article 3 of that Regulation. When the use of proceeds is unknown, institutions shall disclose the extent to which the exposure is environmentally sustainable by using the information received from the counterparty, in accordance with Article 8 of Regulation (EU) 2020/852, on the proportion of the turnover derived from products or services associated with economic activities that qualify as environmentally sustainable under Article 3 of that Regulation. Each exposure shall be considered only once and shall be allocated to only one environmental objective. Where the exposures are relevant for more than one environmental objective, the allocation shall be made to the most relevant objective. d Of which: specialised lending Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Specialised lending exposures shall be understood as referred to in Article 147(8) of Regulation (EU) No 575/2013. It includes exposures which are environmentally sustainable under the objective of climate-change mitigation in accordance with Article 9, point (a), and Article 10 of Regulation (EU) 2020/852. When the use of proceeds is known, in the case of specialised lending institutions shall disclose the extent to which the exposure is environmentally sustainable based on the extent and proportion to which the specific project funded qualify as contributing substantially to climate change mitigation (project specific information), in accordance with Article 10 of Regulation (EU) 2020/852, or as enabling activity in accordance with Article 16, and meets the criteria specified in Article 3 of that Regulation. Institutions shall provide transparent information on the kind of economic activities that are being funded through specialised lending. Where the same specialised lending exposure is relevant to two environmental objectives, institutions shall allocate it to the most relevant one. e Of which: transitional Article 10 of Regulation (EU) 2020/852. f Of which: enabling Article 16 of Regulation (EU) 2020/852. g Of which: towards taxonomy relevant sectors Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall disclose the gross carrying amount of eligible exposures towards sectors (4 level NACE codes) relevant for the corresponding environmental objective according to the Taxonomy, as specified in Annex II to Delegated Regulation (EU) 2021/2139. Institutions shall disclose exposures towards relevant sectors under the objective of climate change adaptation in accordance with Article 9, point (b), and Article 11 of Regulation (EU) 2020/852. h Of which: environmentally sustainable Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall disclose the gross carrying amount of eligible exposures that are environmentally sustainable, as specified in Annex II to Delegated Regulation (EU) 2021/2139. Institutions shall disclose environmentally-sustainable exposures under the objective of climate change adaptation in accordance with Article 9, point (b), and Article 11 of Regulation (EU) 2020/852. When the use of proceeds is known, in the case of specialised lending institutions shall disclose the extent to which the exposure is environmentally sustainable based on the extent and proportion to which the funded project qualifies as contributing substantially to climate change adaptation, in accordance with Article 11 of Regulation (EU) 2020/852, or as enabling activity in accordance with Article 16 of that Regulation, and meets the criteria specified in its Article 3 of that Regulation. Where the use of proceeds is unknown, institutions shall disclose the extent to which the exposure is environmentally sustainable by using the information from the counterparty, in accordance with Article 8 of Regulation (EU) 2020/852, on the proportion of the turnover derived from products or services associated with economic activities that qualify as environmentally sustainable under Article 3 of that Regulation. Each exposure shall be considered only once and shall be allocated to only one environmental objective. Where the exposures are relevant for more than one environmental objective, exposures shall be allocated to the most relevant objective. i Of which: specialised lending Institutions are to disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Specialised lending exposures shall be understood as referred to in Article 147(8) of Regulation (EU) No 575/2013. Institutions shall disclose special lending exposures which are environmentally sustainable under the objective of climate change adaptation in accordance with Article 9, point (b), and Article 11 of Regulation (EU) 2020/852. Institutions shall disclose the extent to which the exposure is environmentally sustainable by using the information from the counterparty. When the use of proceeds is known, in the case of specialised lending institutions shall disclose the extent to which the exposure is environmentally sustainable based on the extent and proportion to which the specific funded project qualifies as contributing substantially to climate change adaptation (project specific information), in accordance with Article 11 of Regulation (EU) 2020/852, or as enabling activity in accordance with Article 16 of that Regulation, and meets the criteria specified in its Article 3 of that Regulation. Institutions shall provide transparent information on the kind of economic activities that are being funded through specialised lending. Where the same specialised lending exposure can be relevant for two environmental objectives, the exposure shall be allocated to the most relevant one. j Of which: adaptation Article 11 of Regulation (EU) 2020/852. These activities shall cover those that are not enabling activities. k Of which: enabling Article 16 of Regulation (EU) 2020/852. l Of which: towards taxonomy relevant sectors Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall include the sum of column (b) and column (g) of this template. m Of which: environmentally sustainable Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Institutions shall include the sum of column (c) and column (h) of this template. n Of which: specialised lending Institutions shall disclose the gross carrying amount as defined in Part 1 of Annex V to Implementing Regulation (EU) 2021/451. Specialised lending exposures shall be understood as referred to in Article 147(8) of Regulation (EU) No 575/2013. Institutions shall include the sum of column (d) and column (i) of this template. o Of which: transitional/adaptation Article 10 and Article 11 of Regulation (EU) 2020/852. Institutions shall include the sum of column (e) and column (j) of this template. p Of which: enabling Article 16 of Regulation (EU) 2020/852. Institutions shall include the sum of column (f) and column (k) of this template. Rows Instructions GAR – Covered assets in both numerator and denominator Eligible exposures shall be those that are related to the counterparties and asset classes covered in the scope of the disclosure requirements in accordance with Article 8 of Regulation (EU) 2020/852. 1 Loans and advances, debt securities and equity instruments not HfT eligible for GAR Institutions shall disclose loans and advances, debt securities and equity instruments classified in the banking book, not held for trading and not held for sale as defined in Annex V to Implementing Regulation (EU) 2021/451. 2 Financial corporations Institutions shall disclose the exposures referred to in Part 1, point 42, point (c) and point (d), of Annex V to Implementing Regulation (EU) 2021/451. 3 Credit institutions Institutions shall disclose the exposures referred to in Part 1, point 42, letter (c), of Annex V to Implementing Regulation (EU) 2021/451. 4, 9, 13, 17, 21, 34, 40 Loans and advances Institutions shall disclose the loans and advances referred to in Part 1, point 32, of Annex V to Implementing Regulation (EU) 2021/451. 5, 10, 14, 18, 22, 37, 41 Debt securities Institutions shall disclose the debt securities as referred to in Part 1, point 31, of Annex V to Implementing Regulation (EU) 2021/451. 6, 11, 15, 19, 23, 38, 42 Equity instruments Institutions shall disclose the equity instruments as referred to in Annex V to Implementing Regulation (EU) 2021/451. Equity instruments in the banking book include investments in associates, joint ventures and subsidiaries which are not fully or proportionally consolidated. 7 Other financial corporations Institutions shall disclose the exposures to other financial corporations as referred to in Part 1, point 42, letter (d), of Annex V to Implementing Regulation (EU) 2021/451. 8 Of which: investment firms Institutions shall disclose the exposures to investment firms as defined in Article 4, paragraph (1), point (2), of Regulation (EU) No 575/2013. 12 Of which: management companies Institutions shall disclose the exposures to management companies as defined in Article 4(1), point (19), of Regulation (EU) No 575/2013. 16 Of which: insurance undertakings Institutions shall disclose the exposures to insurance undertakings as defined in Article 4, paragraph (1), point (5), of Regulation (EU) No 575/2013 20 Non-financial corporations subject to NFRD disclosure obligations Institutions shall disclose the exposures to non-financial corporation as referred to in Part 1, point 42, letter (e), of Annex V to Implementing Regulation (EU) 2021/451, which are subject to disclosure obligations under Directive 2014/95/EU. 28 Of which: commercial real estate loans Institutions shall disclose the exposures referred to in Part 2, point 173, letter (a), and point 239ix of Annex V to Implementing Regulation (EU) 2021/451. 24 Households Institutions shall disclose the loans and advances as referred to in Part 1, point 42, letter (f), of Annex V to Implementing Regulation (EU) 2021/451. Institutions are to collect information from their counterparties bilaterally through the loan origination process, and the regular credit review and monitoring process. 25 Of which: loans collateralised by residential immovable property Institutions shall disclose the loans and advances collateralised by residential immovable property as referred to in Part 2, point 173, letter (a), of Annex V to Implementing Regulation (EU) 2021/451. The alignment of those exposures to Regulation (EU) 2020/852 shall only be assessed following a simplified approach for the objective of climate change mitigation in accordance with the technical screening criteria for buildings, namely renovation and acquisition and ownership in accordance with points 7.2., 7.3., 7.4., 7.5, 7.6., and 7.7. respectively, of Annex I to Delegated Regulation (EU) 2021/2139, based on the energy efficiency of the underlying collateral. 26 Of which: building renovation loans Institutions shall disclose the loans that are granted to households with the purpose of renovating their house. The alignment of these exposures to Regulation (EU) 2020/852 shall only be assessed following a simplified approach for the objective of climate change mitigation in accordance with the technical screening criteria for buildings, namely renovation and acquisition and ownership in accordance with points 7.2., 7.3., 7.4., 7.5, 7.6., and 7.7., respectively, of Annex I to Delegated Regulation (EU) 2021/2139, based on the energy efficiency of the underlying collateral. 27 Of which motor vehicle loans Institutions shall disclose the motor vehicle loans as referred to in Part 2, point 173, letter (b)(ii), of Annex V to Implementing Regulation (EU) 2021/451 and other loans granted for the acquisition of a motor vehicle assessed following a simplified approach for the objective of climate change mitigation in accordance with the technical screening criteria for financing, renting, leasing of vehicles in accordance with Section 6.5 of Annex I to Delegated Regulation (EU) 2021/2139, based on the energy efficiency of the underlying vehicle. 28 Local governments financing The addition of rows 29 and 30. 29 Housing financing Institutions shall disclose the loans granted by institutions to local government with the aim of funding the acquisition of public housing. 30 Other local government financing Institutions shall disclose the loans granted by institutions to local government with the aim of funding specialised lending exposures other than those resulting from the acquisition of public housing. 31 Collateral obtained by taking possession: residential and commercial immovable properties Institutions shall disclose the collateral obtained by taking possession as referred to in Part 2, point 341, of Annex V to Implementing Regulation (EU) 2021/451. 32 Total GAR assets This row shall be equal to row 1 of this template. Assets excluded from the numerator for GAR calculation (covered in the denominator) 33 EU Non-financial corporations (not subject to NFRD disclosure obligations) Institutions shall disclose exposures to non-financial corporation as defined in Part 1, point 42(e), of Annex V to Implementing Regulation (EU) 2021/451, which are located in the Union and not subject to disclosure obligations under Directive 2014/95/EU. 37 Non-EU Non-financial corporations (not subject to NFRD disclosure obligations) Institutions shall disclose exposures to non-financial corporation as defined in Part 1, point 42(e) of Annex V to Implementing Regulation (EU) 2021/451, which are located outside the Union and not subject to disclosure obligations under Directive 2014/95/EU. Assets excluded from the numerator for GAR (covered in the denominator) 41 Derivatives Institutions shall disclose derivatives not held for trading as referred to in Part 1, Section 10, of Annex V to Implementing Regulation (EU) 2021/451. 42 On demand interbank loans Institutions shall disclose ‘Other demand deposits’ as referred in to Part 2, point 3, of Annex V to Implementing Regulation (EU) 2021/451. 43 Cash and cash-related assets Institutions shall disclose ‘Cash on hand’ as referred to in Part 2, point 1, of Annex V to Implementing Regulation (EU) 2021/451. 44 Other assets (including goodwill, commodities etc.) Institutions shall disclose other assets in the balance-sheet of the institution not included in rows 41, 42 and 43 of this template. 45 Total assets in the denominator (GAR) This row shall be the sum of rows 32, 33, 37 and 41 to 44 of this template. Other assets excluded from both the numerator and denominator for GAR calculation 46 Sovereigns Institutions shall disclose general governments as referred to in Part 1, point 42, of Annex V to Implementing Regulation (EU) 2021/451, excluding exposures included in rows 29 and 30 of this template. 47 Central bank exposures Institutions shall disclose exposures towards central banks. 48 Trading book Institutions shall disclose financial assets held for trading or trading financial assets as defined in the applicable accounting principles. 49 Total assets excluded from numerator and denominator This row shall be the sum of rows 46, 47 and 48 of this template. 50 Total assets This row shall be the sum of rows 45 and 49 of this template. |
Template 8 – GAR (%)
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