EU Taxonomy

Sustainability Omnibus I: Assessing the Impact of Proposed Scope Reductions on the European Banking Sector

As negotiations to reach a final Omnibus I proposal have started, we analyse the impact each proposal would have on European banks. Despite the variations, all three proposals suggest a single path towards major scope reductions. This would be a positive for banks no longer required to report on ESG but complicate disclosures for those still in scope