Question
According to the Template 7 of Pillar 3, credit institutions are required to provide the breakdown of activities that are aligned with the objective of climate change adaptation between "specialised lending, adaptation, and enabling activity". However, Template 1 of the EU Taxonomy (GAR covered assets) doesn't have a column for "adaptation" under the objective of climate change adaptation. Also, the EU Taxonomy uses the word "use of proceeds" in place of "specialised lending".
Background on the question
1. We would appreciate it if you could provide guidance on the "adaptation" column, should we include "adaptation" in the EU Taxonomy template or remove "adaptation" from Template 7 of Pillar 3? 2. Does EBS use the terms "specialised lending" and "use of proceeds" interchangeably, if not please suggest guidance on these 2 terms.
Answer
This question has been rejected because it has not sufficiently identified a provision of a legal framework covered by this tool for which an explanation is merited in terms or practical implementation or application. The objective of the Q&A tool is not to answer questions that put into doubt the correctness of the legal frameworkThe Single Rule Book Q&A tool has been established to provide explanations and non-binding interpretations on questions relating to the practical application or implementation of the provisions of legislative acts referred to in Article 1(2) of the EBA’s founding Regulation, as well as associated delegated and implementing acts, and guidelines and recommendations, adopted under these legislative acts.For further information on the purpose of this tool and on how to submit questions, please see “Additional background and guidance for asking questions”.