Final Report on Technical Advice on Selected KPIs Under the Taxonomy Disclosures Delegated Act (European Securities and Markets Authority)
Summary
- On 4 March 2026, the European Commission requested that the European Supervisory Authorities provide technical advice on targeted matters supporting the review of the Taxonomy Disclosures Delegated Act.p.6
- ESMA recommends revising the mandatory OpEx KPI to focus on non-capitalised R&D expenditure and monitoring the revised framework for a period of 5 years.p.7
Key insights
- The European Supervisory Authorities advise against allowing financial undertakings and asset managers to voluntarily combine counterparties' OpEx and CapEx metrics.p.7
- ESMA recommends replacing the weighted-average group KPI calculation with the KPI corresponding to the main reporting regime of the parent undertaking.p.8
- ESMA advises introducing optional reporting reliefs for corporate acquisitions, disposals, omitted information, and comparative information restatements.p.8
- A one-year phased application period is recommended when technical screening criteria or reporting requirements are modified.p.8
- First-time reporters and undertakings reporting newly introduced activities should be granted a one-year eligibility-only reporting relief.p.8
- ESMA recommends removing the requirement to disclose the adjusted Turnover KPI for sustainable bond issuances.p.8
Topics and entities
Summary and figures generated from the document and checked automatically: every number shown appears on the cited page. The full document is available from the publisher. Publishers can request removal.