The increasing regulatory demand for ESG reporting means banks need to adapt in the short term to meet demanding deadlines and to adjust/redesign their processes to generate the information required to be reported. As of 2022, financial institutions, as well as certain non-financial firms, will have to respond to the sustainability reporting requirements of the European Banking Authority (EBA), the European Commission and the European Central Bank (ECB).
ESG Reporting
This is a highly transformational regulatory change that represents a challenge for financial institutions in terms of sourcing the data to be reported and making it available under the institution's information systems. The information reported will have a reputational impact for financial institutions, revealing their sustainability exposure, risks and revenues.
Management Solutions has been collaborating with several financial and non-financial firms, providing support in adapting internal processes to regulatory requirements and generating ESG regulatory reports (Pillar 3, Article 8 on taxonomy, Statement of non-financial information, Climate Stress Test).
Our value proposition focuses on supporting the areas responsible for generating ESG regulatory reports (usually Finance) or the areas in charge of providing the necessary inputs for the reports (such as Business or Risk), providing:
- Detailed analysis of regulations and establishment of criteria for implementation.
- Definition of the implementation plan and functional support in the related IT developments.
- And Report execution: Generating quantitative and qualitative information and Reviewing and validating the consolidated information.
Alternatively, our support can be considered as helping organizations define and implement more tactical solutions that will allow them to respond to reporting requirements in a more agile way, thus reducing the resources and time needed for producing these reports.