ESG disclosure update

"Banks can cooperate on sustainability reports' The Authority for Consumers and Markets (ACM) issued an informal letter on 15 August allowing Dutch banks to cooperate on their sustainability reports in response to a request from the Dutch Banking Association. (NVB). ACM does not expect the cooperation to have negative consequences, such as price increases or quality reductions. At the same time, NVB announced an initiative in which banks will collaborate on a data project aimed at clarifying certain sustainability criteria that banks must report on. In this context, they assess what data is needed and identify appropriate and reliable calculation methods. Cooperation is currently a pilot project focused on the transport, agriculture and real estate sectors. (NautaDutilh, more at lexology.com)