Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 Nov... (32023R2631)
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Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (Text with EEA relevance)
- REGULATION (EU) 2023/2631 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
- of 22 November 2023
- on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds
- (Text with EEA relevance)
- TITLE I
- SUBJECT MATTER AND DEFINITIONS
- Article 1
- Subject matter
- Article 2
- Definitions
- TITLE II
- REQUIREMENTS FOR THE USE OF THE DESIGNATION ‘EUROPEAN GREEN BOND’ OR ‘EUGB’
- CHAPTER 1
- Bond-related requirements
- Article 3
- Designation ‘European Green Bond’ or ‘EuGB’
- Article 4
- Use of the proceeds of European Green Bonds
- Article 5
- Flexibility in the use of the proceeds of European Green Bonds
- Article 6
- Financial assets
- Article 7
- CapEx plans
- Article 8
- Application of the technical screening criteria and grandfathering
- Article 9
- Exclusion of non-cooperative jurisdictions for tax purposes
- CHAPTER 2
- Transparency and external review requirements
- Article 10
- European Green Bond factsheet and pre-issuance review
- Article 11
- Allocation reports and post-issuance review of allocation reports
- Article 12
- European Green Bond impact report
- Article 13
- Sovereign issuers
- Article 14
- Prospectus for European Green Bonds
- Article 15
- Publication on the issuer’s website and notification to ESMA and competent authorities
- CHAPTER 3
- Conditions for the use of the designation ‘European Green Bond’ or ‘EuGB’ in respect of securitisation bonds
- Article 16
- Application of the designation ‘European Green Bond’ or ‘EuGB’ to securitisation bonds
- Article 17
- Exclusion of bonds issued for the purpose of synthetic securitisation
- Article 18
- Exclusions of certain securitised exposures
- Article 19
- Additional disclosure requirements in the case of securitisation
- TITLE III
- OPTIONAL DISCLOSURE TEMPLATES FOR BONDS MARKETED AS ENVIRONMENTALLY SUSTAINABLE AND FOR SUSTAINABILITY-LINKED BONDS
- Article 20
- Pre-issuance disclosures for issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds
- Article 21
- Periodic post-issuance disclosures for issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds
- TITLE IV
- EXTERNAL REVIEWERS FOR EUROPEAN GREEN BONDS
- CHAPTER 1
- Conditions for the external review of European Green Bonds
- Article 22
- Registration
- Article 23
- Application for registration as an external reviewer for European Green Bonds
- Article 24
- Material changes relevant for the registration
- Article 25
- Language regime
- CHAPTER 2
- Organisational requirements, processes and documents concerning governance
- Article 26
- General principles
- Article 27
- Senior management and members of the board
- Article 28
- Analysts and employees of external reviewers, and other persons directly involved in the assessment activities of external reviewers
- Article 29
- Compliance function
- Article 30
- Internal policies and procedures
- Article 31
- Assessment methodologies and information used for reviews
- Article 32
- Errors in assessment methodologies or in their application
- Article 33
- Outsourcing
- Article 34
- Record-keeping requirements
- Article 35
- Conflicts of interest and confidentiality of information
- Article 36
- Provision of other services
- CHAPTER 3
- Reviews
- Article 37
- References to ESMA or other competent authorities
- Article 38
- Publication of reviews
- CHAPTER 4
- Provision of services by third-country external reviewers
- Article 39
- General provisions
- Article 40
- Equivalence decision
- Article 41
- Withdrawal of registration of third-country external reviewer
- Article 42
- Recognition of a third-country external reviewer
- Article 43
- Endorsement of services under this Regulation provided in a third country
- TITLE V
- SUPERVISION BY COMPETENT AUTHORITIES AND ESMA
- CHAPTER 1
- Competent authorities
- Article 44
- Supervision by competent authorities
- Article 45
- Powers of competent authorities
- Article 46
- Cooperation between competent authorities
- Article 47
- Professional secrecy
- Article 48
- Precautionary measures
- Article 49
- Administrative penalties and other administrative measures
- Article 50
- Exercise of supervisory powers and powers to impose penalties
- Article 51
- Right of appeal
- Article 52
- Publication of decisions
- Article 53
- Reporting of administrative penalties and other administrative measures to ESMA
- CHAPTER 2
- ESMA
- Article 54
- Requests for information
- Article 55
- General investigations
- Article 56
- On-site inspections
- Article 57
- Exercise of the powers referred to in Articles 54, 55 and 56
- Article 58
- Exchange of information
- Article 59
- Supervisory measures by ESMA
- Article 60
- Fines
- Article 61
- Periodic penalty payments
- Article 62
- Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
- Article 63
- Procedural rules for taking supervisory measures and imposing fines
- Article 64
- Hearing of the persons subject to decisions pursuant to Articles 59, 60 and 61
- Article 65
- Review by the Court of Justice
- Article 66
- Registration, recognition and supervisory fees
- Article 67
- ESMA register of external reviewers and third-country external reviewers
- TITLE VI
- DELEGATED ACTS
- Article 68
- Exercise of the delegation
- TITLE VII
- FINAL PROVISIONS
- Article 69
- Transitional provisions concerning external reviewers
- Article 70
- Transitional provisions concerning third-country external reviewers
- Article 71
- Review
- Article 72
- Entry into force and application
- ANNEX I
- EUROPEAN GREEN BOND FACTSHEET
- ANNEX II
- EUROPEAN GREEN BOND ANNUAL ALLOCATION REPORT
- [where the allocation report is revised, the title shall reflect this]
- ANNEX III
- EUROPEAN GREEN BOND IMPACT REPORT
- [Where the impact report is revised, the title shall reflect this.]
- ANNEX IV
- CONTENTS OF PRE-ISSUANCE, POST-ISSUANCE OR IMPACT REPORT REVIEWS
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