The European Banking Authority (EBA) has published the final templates for collecting climate-related data for the Fit-for-55 climate risk scenario analysis. The templates will be used by the 110 EU banks that are participating in the exercise, and comes complete with a template guidance, which gives definitions and rules for completing the templates.
The Fit-for-55 scenario analysis is a one-off exercise that aims to assess the resilience of the financial sector, as well as the financial system’s capacity to support the transition to a lower carbon economy, under conditions of stress. It is part of the mandates received by the EBA under the European Commission’s Renewed Sustainable Finance Strategy. The exercise will be conducted in collaboration with the European Supervisory Authorities (ESAs), European Central Bank (ECB), and the European Systemic Risk Board (ESRB).
Participating banks will be reporting aggregated and counterparty level data as of December 2022. The EBA stated that counterparty level data will allow it to assess concentration risk of large climate exposures, as well as capture amplification mechanisms and assess second round effects”. Meanwhile, aggregated data will ”inform on the climate related risks of the banking sector more broadly”.
