EC issues call for technical advice to ESAs on Disclosures Delegated Act

The European Commission (EC) has issued a call for technical advice to the European Supervisory Authorities (comprising the European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority) (ESAs) on key performance indicators (KPIs) and other aspects of the Disclosures Delegated Act under Article 8 of Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment (Taxonomy Regulation). The EC is seeking technical input to complete the review and simplification of taxonomy reporting under the Disclosures Delegated Act. The review will focus on measures that were not included in Delegated Regulation (EU) 2026/73 (Omnibus Delegated Act) and will take place alongside ongoing work to amend the Sustainable Finance Disclosure Regulation.

The EC states that the advice should mainly focus on the following KPIs provided in the Disclosures Delegated Act: the operational expenditure (OpEx) KPI of non-financial firms, commissions and fees KPI and trading book KPI of credit institutions, and the underwriting KPI of insurance/reinsurance undertakings. In addition, the ESAs can advise on whether other targeted technical amendments to the Disclosures Delegated Act are necessary to simplify and enhance the usability of taxonomy reporting.

The EC requests delivery of the final advice by the ESAs by October. The EC is aiming to adopt any amendments to the Disclosures Delegated Act in Q1 2027, with entry into force in Q3 2027. This is before the transitional relief for taxonomy reporting provided to financial undertakings in the Omnibus Delegated Act expires on 31 December 2027. The EC also notes that the more general review of taxonomy technical screening criteria is ongoing and is due to be finalised in Q3.

Return to main website.