GBIC comments to amendments of delegated acts

In response to the European Commission’s consultation on its proposed changes to the delegated acts of the EU Taxonomy the German Banking Industry Committee (GBIC) issued a statement. The core proposal of the GBIC is to make the EU Taxonomy more practical and efficient, aiming to relieve both the financial sector and the real economy while promoting sustainability objectives. The GBIC calls for aligning supervisory and disclosure requirements for credit institutions with proposed changes and suspending taxonomy reporting obligations temporarily until the comprehensive revision of the latter’s framework is complete.