(b)

in paragraph 2, the following subparagraphs are added: ‘Member States shall ensure that the management body develops and monitors the implementation of specific plans that include quantifiable targets and processes to monitor and address the financial risks arising in the short, medium and long term from ESG factors, including those arising from the process of adjustment and from transition trends in the context of the relevant Union and Member State regulatory objectives and legal acts in relation to ESG factors, in particular the objective to achieve climate neutrality, as well as, where relevant for internationally active institutions, third-country legal and regulatory objectives. The quantifiable targets and processes to address the ESG risks included in the plans referred to in the second subparagraph of this paragraph shall consider the latest reports and measures prescribed by the European Scientific Advisory Board on Climate Change, in particular in relation to the achievement of the climate targets of the Union. Where the institution discloses information on ESG matters in accordance with Directive 2013/34/EU of the European Parliament and of the Council (*16), the plans referred to in the second subparagraph of this paragraph shall be consistent with the plans referred to in Article 19a or 29a of that Directive and shall, in particular, include actions with regard to the business model and strategy of the institution that are consistent across both plans. Member States shall ensure a proportionate application of the second and third subparagraphs for the management bodies of small and non-complex institutions, indicating in what areas a waiver or a simplified procedure may be applied. (*16) Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).’;"

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.