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News article13 April 2021

UNEP FI: 26 banks test the application of the EU taxonomy to core banking products

UNEP FI and the European Banking Federation (EBF) have launched a unique report assessing the extent to which the EU Taxonomy on Sustainable Activities could be applied to core banking products for labelling or disclosure purposes. This report is the result of a project with 26 major banks, seven banking associations and five observing organisations. They are working together to test, pilot and assess the complexities of applying the EU Taxonomy, which is aimed mainly at investors, to core banking products.

From March to August 2020, banks participating in the project tested the EU Taxonomy on more than 40 live or recently closed transactions and existing client relationships. Unique insight and information value was provided across a large spectrum of sectors and economic activities, and a diverse set of banking products, clients’ corporate structures and geographical locations.

Read more at UNEP FI


Publication date
13 April 2021