Commission 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 risksText with EEA relevance.

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

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 calculation46

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 (%)

1. Institutions shall use the following instructions to disclose the information required in Template 8 – GAR (%), as set out in Annex XXXIX to this Regulation.

1. Based on the information included in template 7, institutions shall disclose in this template the GAR as referred to in Delegated Regulation (EU) 2021/2178.

1. The purpose of this template is to show to what extent institutions’ activities qualify as environmentally sustainable in accordance with Articles 3 and 9 of Regulation (EU) 2020/852 so that stakeholders can understand the actions put in place by the institutions to mitigate climate change transition and physical risks.

1. Delegated Regulation (EU) 2021/2178 requires institutions to estimate and disclose the GAR twice. Once, the disclosure is 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). A second disclosure is based on the CapEx alignment to Regulation (EU) 2020/852 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.

1. Institutions shall start disclosing 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.

ColumnsInstructionsa

Proportion of assets funding taxonomy relevant sectors

Institutions shall disclose the proportion of the stock of assets funding activities referred to in Regulation (EU) 2020/852 (i.e. eligible assets) in total stock of covered assets. This item shall be expressed as a percentage.

The numerator of the KPI shall be the gross carrying amount of eligible assets funding taxonomy-relevant sectors referred to in Regulation (EU) 2020/852 for the objective of climate change mitigation as referred to in the instructions corresponding to column (b) of Template 7.

The denominator of the KPI shall be the gross carrying amount of covered assets as defined in the instructions corresponding to column (a) of Template 7.

b

Of which: environmentally sustainable

Institutions shall disclose the proportion of the stock of assets funding environmentally sustainable activities (i.e., aligned assets) in the stock of eligible assets. The item shall be expressed in percentage terms.

The numerator of the KPI shall be the gross carrying amount of eligible assets funding environmentally sustainable activities for the objective of climate-change mitigation as referred to in the instructions corresponding to column (c) of Template 7.

The denominator of the KPI shall be the gross carrying amount of covered exposures as referred to in the instructions corresponding to column (a) of Template 7.

c

Of which: specialised lending

Institutions shall disclose the proportion of the stock of assets categorised as specialised lending funding environmentally sustainable activities for the objective of climate change mitigation in the stock of assets funding environmentally sustainable activities. The item shall be expressed as a percentage.

The numerator of the KPI shall be the gross carrying amount of assets as referred to in the instructions corresponding to column (d) of Template 7.

The denominator of the KPI shall be the gross carrying amount of covered assets as referred to in the instructions corresponding to column (a) of Template 7.

d

Of which: transitional

Article 16 of Regulation (EU) 2020/852.

The percentage shall correspond to column (e) and column (j).

p

Proportion of total assets covered

Institutions shall disclose the proportion of total assets covered by the GAR. The item shall be expressed in percentage terms.

The numerator of the KPI shall be the gross carrying amount of the stock of covered assets as referred to in the instructions corresponding to column (1) of Template 7.

The denominator of the KPI shall be the gross carrying amount of total assets on institutions’ balance sheet as referred to in the instructions corresponding to row 50 of Template 7.

q

Proportion of new assets funding taxonomy relevant sectors

Institutions shall disclose the proportion of new assets (i.e. assets originated within the current disclosure period) funding taxonomy-relevant activities (i.e. eligible assets) for the objective of climate change mitigation in total new eligible assets (i.e. eligible assets originated within the current disclosure period). New assets shall be calculated net of repayments and other reductions.

Tis item shall be expressed as in percentage terms.

The numerator of the KPI shall be the gross carrying amount of eligible new assets funding taxonomy relevant sectors as referred to in the instructions corresponding to column (b) of Template 7.

The denominator of the KPI shall be the gross carrying amount of new covered assets from those assets, as referred to in the instructions corresponding to column (a) of Template 7.

r

Of which: environmentally sustainable

Institutions shall disclose the proportion of new assets (i.e. assets originated within the current disclosure period) funding environmentally sustainable activities for the objective of climate change mitigation in total new eligible assets (i.e. eligible assets originated within the current disclosure period). New assets shall be calculated net of repayments and other reductions.

The item shall be expressed as a percentage.

The numerator of the KPI shall be the gross carrying amount of eligible new assets as referred to in the instructions corresponding to column (c) of Template 7.

The denominator of the KPI shall be the gross carrying amount of new covered assets from those assets, as referred to in the instructions corresponding to column (a) of Template 7.

s

Of which: specialised lending

Institutions shall disclose the proportion of new assets (i.e. assets originated within the current disclosure period) categorised as specialised lending funding environmentally sustainable activities for the objective of climate change mitigation in total new eligible assets (i.e. assets originated within the current disclosure period) funding environmentally sustainable activities. New eligible assets shall be calculated net of repayments and other reductions.

The item shall be expressed as a percentage.

The numerator of the KPI shall be the gross carrying amount of eligible new assets as referred to in the instructions corresponding to column (d) of Template 8.

The denominator of the KPI shall be the gross carrying amount of new covered assets from those assets, as referred to in the instructions corresponding to column (a) of Template 7.

t

Of which: transitional

This item shall be expressed as a percentage.

The numerator of the KPI shall be the gross carrying amount of eligible new assets as referred to in the instructions corresponding to column (i) of Template 7.

The denominator of the KPI shall be the gross carrying amount of new covered assets from those assets, as referred to in the instructions corresponding to column (a) of Template 7.

y

Of which: adaptation

This item shall be expressed in percentage terms.

The numerator of the KPI shall be the gross carrying amount of eligible new assets as referred to in the instructions corresponding to column (n) of Template 7.

The denominator of the KPI shall be the gross carrying amount of new covered assets from those assets, as referred to in the instructions corresponding to column (a) of Template 7.

ad

Of which: transitional/adaptation

Articles 10 and 11 of Regulation (EU) 2020/852.

The percentage shall correspond to column (t) and column (y).

ae

Of which: enabling

Article 16 of Regulation (EU) 2020/852.

The percentage shall correspond to column (u) and column (z).

af

Proportion of new total assets covered

Institutions shall disclose the proportion of new total assets covered by the GAR. New assets shall be calculated net of repayments and other reductions.

The item shall be expressed as a percentage.

The numerator of the KPI shall be the difference in the gross carrying amount of covered assets, as referred to in the instructions corresponding to row 1 of Template 7, between current disclosure period (t) and previous disclosure period (t-1).

The denominator of the KPI shall be the difference in the gross carrying amount of new total assets, as referred to in the instructions corresponding to row 53 of Template 7, between current disclosure period (t) and previous disclosure period (t-1).

RowsInstructions1GAR as referred to in Delegated Regulation (EU) 2021/2178.2

Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation

GAR % for exposures in row 1 of Template 7.

3

Financial corporations

GAR % for exposures in row 2 of Template 7.

4

Credit institutions

GAR % for exposures in row 3 of Template 7.

5

Other financial corporations

GAR % for exposures in row 7 of Template 7.

6

Of which: investment firms

GAR % for exposures in row 8 of Template 7.

7

Of which: management companies

GAR % for exposures in row 12 of Template 7.

8

Of which: insurance undertakings

GAR % for exposures in row 16 of Template 7.

9

NFCs subject to NFRD disclosure obligations

GAR % for exposures in row 20 of Template 7.

10

Households

GAR % for exposures in row 24 of Template 7.

11

Of which loans collateralised by residential immovable property

GAR % for exposures in row 25 of Template 7.

12

Of which building renovation loans

GAR % for exposures in row 26 of Template 7.

13

Of which motor vehicle loans

GAR % for exposures in row 27 of Template 7.

14

Local government financing

GAR % for exposures in row 28 of Template 7.

15

Housing financing

GAR % for exposures in row 29 of Template 7.

16

Other local government financing

GAR % for exposures in row 30 of Template 7.

17

Collateral obtained by taking possession: residential and commercial immovable properties

GAR % for exposures in row 31 of Template 7.

Template 9 – Mitigating actions: BTAR

1. Article 9 of Implementing Regulation (EU) 2021/2178 provides that the Commission reviews the application of that Regulation by 30 June 2024. The Commission is to assess in particular the need for any further amendments with regards to the inclusion of:

(a) exposures to central governments and central banks in the numerator and denominator of key performance indicators of financial undertakings;

(b) exposures to undertakings that do not publish a non-financial statement pursuant to Articles 19a or 29a of Directive 2013/34/EU in the numerator of key performance indicators of financial undertakings.

1. Institutions may choose to include in this template the following information. For those counterparties that are non-financial corporates and do not have disclosure obligations, institutions may disclose, on a reasonable effort basis and based on information already available and collected on a voluntary and bilateral basis from their counterparties or calculated using estimates, extended information on the taxonomy eligibility and taxonomy alignment as referred to in Regulation (EU) 2020/852 with regard to the environmental objectives of climate-change mitigation and adaptation, as referred to in Article 9, points (a) and (b), of Regulation (EU) 2020/852, of those exposures towards European non-financial corporations that are not subject to the disclosure obligations laid down in Directive 2013/34/EU and non-European non-financial corporations not subject to the disclosure obligations laid down in Directive 2013/34/EU. That information may be disclosed only once, based on counterparties’ turnover alignment for the general-purpose lending loans, as in the case of the GAR.

The first disclosure reference date of this template is as of 31 December 2024. Institutions are not required to disclose this information before 1 January 2025.

Template 9.1 – Mitigating actions: Assets for the calculation of BTAR

1. Institutions may disclose in this template the gross carrying among of the assets relevant for the calculation of the BTAR. This template shall only apply to counterparties that are not subject to disclosure obligations.

1

TOTAL GAR ASSETS

As disclosed in row 32 of template 7.

2

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 which are not subject to disclosure obligations under Directive 2013/34/EU.

Where the counterparty is not subject to disclosures under Article 8 of Regulation (EU) 2020/852, for the calculation of the percentage of taxonomy-aligned exposures as referred to in Regulation (EU) 2020/852, institutions may, on a reasonable effort basis, collect information from their counterparties on a voluntary and bilateral basis through the loan origination, and regular credit review and monitoring process. Only where the counterparty is not able or willing to provide the relevant data, credit institutions shall make use of internal estimates and proxies and explain in the narrative accompanying the template the extend of use of those estimates and the kind of estimates applied. Where institutions are unable to collect on a voluntary and bilateral basis or estimate relevant information, or are unable to do it in a reasonable way that is not overly burdensome for them or their counterparties, they shall explain that fact in the narrative accompanying the template, explaining the reasons and counterparties affected.

For disclosures involving corporates not subject to disclosure obligations under Directive 2013/34/EU, including small and medium enterprises (SMEs), when assessing general purpose lending/financing with unknown use of proceeds, institutions shall follow a simplified approach and focus their assessment on the main economic activity of the corporate, that is, on their main source of turnover, in order to determine the overall alignment of the exposures with Regulation (EU) 2020/852. In the case of specialised lending, the assessment shall be based on the extent to which the specific project funded qualifies as contributing substantially to climate change mitigation or adaptation (project specific information).

4

Of which: loans collateralised by commercial immovable property

The exposures referred to in Part 2, point 173, letter (a), and point 239ix, of Annex V to Implementing Regulation (EU) 2021/451.

The taxonomy-alignment as referred to in Regulation (EU) 2020/852 of those exposures 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.

5

Of which: building renovation loans

Loans that are granted to SMEs and other non-financial corporations not subject to disclosure obligations under Directive 2014/95/EU with the purpose of renovating a building.

The taxonomy alignment as referred to in Regulation (EU) 2020/852 of these exposures 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.

8

Non-EU Non-financial corporations (not subject to NFRD disclosure obligations)

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 located outside the Union and not subject to disclosure obligations under Directive 2014/95/EU.

Where institutions are providing that information in their disclosures under Article 8 of Regulation (EU) 2020/852 in accordance with Article 7(7) of Delegated Regulation (EU) 2021/2178, they shall disclose here the same information. Otherwise, institutions shall collect information from their counterparties on a bilateral basis through the loan origination, and regular credit review and monitoring process, or use the following proxies for the disclosure of information on non-EU exposures on a best-effort-basis:

(a) their own models and the classification of exposures according to them; in this case institutions shall explain the main features of the models applied;

(b) where available, counterparties’ public disclosures based on international standards (including TCFD); institutions shall in that case explain the type of information available and the standards applied;

(c) other publicly available data.

Institutions are to explain in the narrative accompanying this template the sources used for the disclosure of this information. Where institutions are unable to collect on a bilateral basis or estimate relevant information or are unable to do it in a reasonable way that is not overly burdensome for them or their counterparties, they shall explain that fact in the narrative accompanying the template, explaining the reasons and counterparties affected.

For this type of counterparties, when assessing general purpose lending/financing with unknown use of proceeds, institutions shall follow a simplified approach and focus their assessment on the main economic activity of the corporate, that is, on their main source of turnover, in order to determine the overall alignment of the exposures with Regulation (EU) 2020/852. In the case of specialised lending, the assessment shall be based on the extent and proportion to which the specific project funded qualify as contributing substantially to climate change mitigation or adaptation (project specific information), and for the real estate portfolio the assessment shall be conducted for the objective of climate change mitigation based on the energy efficiency of the underlying collateral and their alignment with criteria specified for the relevant activities in Regulation (EU) 2020/852.

Row 12

TOTAL BTAR ASSETS

Sum of rows 1, 2 and 8

Rows 13 to 19See definitions in template 7 (rows 41 to 50)

Template 9.2 – BTAR %

Institutions may disclose in this template the percentage of BTAR assets as disclosed in template 1 compared to the total assets in the denominator of the BTAR as disclosed in row 17 of template 9.1.

Template 9.3 – BTAR %

This template contains a summary of the BTAR KPI, breakdown by climate change environmental objective, and total, and with the breakdown for stock and flow.

Template 10 – Other climate change mitigating actions that are not covered in Regulation (EU) 2020/852

1. This template covers other climate change mitigating actions and includes exposures of the institutions that are not taxonomy-aligned as referred to in Regulation (EU) 2020/852 according to templates 7 and 8 but that still support counterparties in the transition and adaptation process for the objectives of climate change mitigation and climate change adaptation. Those mitigating actions and activities shall include bonds and loans issued under standards other than the Union standards, including green bonds; sustainable bonds that are linked to aspects on climate change; sustainability-linked bonds that are linked to aspects on climate change; green loans; sustainability-linked loans that are linked to aspects on climate change; sustainability-linked loans that are linked to aspects on climate change.

1. Institutions shall include in the narrative accompanying this template detailed explanations on the nature and type of mitigating actions reflected in this template, including information on the type of risks that they aim to mitigate, climate change objectives that they support and information on the related counterparties and the timing of the actions. They shall also explain why those exposures are not fully aligned with the criteria laid down in Regulation (EU) 2020/852, and are not sustainable in accordance with Regulation (EU) 2020/852 but still contribute towards mitigating climate change risk transition or physical risk, as well as any other relevant information that may help understand the risk management framework of the institution.

1. Institutions shall start disclosing the information included in the templates with first disclosure reference date as of 31 December 2022.

ColumnsInstructionsa

Type of financial instrument

Institutions shall disclose the type of financial instrument as referred to in Annex V to Implementing Regulation (EU) 2021/451.

b

Type of counterparty

Institutions shall disclose the type of counterparty as referred to in Part 1, point 42, of Annex V to Implementing Regulation (EU) 2021/451.

c

Gross carrying amount (million EUR)

Institutions shall disclose the gross carrying amount as referred to in Part 1, point 34, of Annex V to Implementing Regulation (EU) 2021/451.

d

Type of risk mitigated (Climate change transition risk)

Institutions shall disclose the type of risk that is being mitigated with that action: climate change transition risk.

e

Type of risk mitigated (Climate change physical risk)

Institutions shall disclose the type of risk that is being mitigated with that action: climate change physical risk.

f

Qualitative information on the nature of the mitigating actions

Institutions shall describe the nature of the mitigating actions contributing to climate change mitigation referred to in Article 10 of Regulation (EU) 2020/852 and to climate-change adaptation referred to in Article 11 of that Regulation, and on the reasons why the exposures are not regarded as taxonomy-aligned for the purpose of the GAR.