"29 LEC" reports
- A financial institution's 29 LEC report is "a document outlining [its] policy on the inclusion in their investment strategy of environmental, social and governance quality criteria and the means implemented to contribute to the energy and ecological transition, as well as a strategy for implementing this policy".
Pilar 3 ESG of European banks
- The Observatory is currently working on an analysis of the ESG data contained in the Pillar 3 reports of European banks.
- The inclusion of ESG indicators in the Pillar 3 regulatory framework stems from Capital Requirements Regulation 2 (CRR2), adopted by the European Union in 2019. This publication obligation, valid for the largest institutions since the end of 2022, will be extended to all banks by 2025 via CRR3.
- In January 2022, the European Banking Authority (EBA) defined the publication methods (indicators and publication formats) by means of technical standards known as "Implementing Technical Standards" (ITS), published in the EU Official Journal in November 2022.
- In addition, since 2023, EBA has been leading the Pillar 3 data hub project, an open-access platform for European banks' Pillar 3 data in order to "facilitate access to data published in Pillar 3 reports" and "promote comparability of data in a harmonized format". This platform will subsequently be one of the sources of the European Single Access Point, a single database project led by the Commission as part of its Green Deal and digital finance strategy.
Commitments monitoring of financial actors
