The EACB welcomes the EBA’s efforts to simplify the Taxonomy Article 8 disclosure framework and calls for a stronger focus on materiality, proportionality and usability.
The EACB supports removing the Fees and Commissions and Trading Book KPIs, considering them operationally burdensome, volatile and of limited relevance for assessing sustainable financing or capital allocation. We also support simplifying investment firms’ disclosures and favours an asset-based rather than revenue-based KPI.
More broadly, we take this opportunity to reiterate our call for simpler templates and fewer datapoints, retention of existing materiality thresholds, more durable grandfathering rules, simplification of DNSH and Minimum Social Safeguards requirements, greater stability and comparability of the GAR, and sufficient implementation time for any future changes.