Support in the area of sustainable finance – supervisory capacity enhancement (REFORM/SC2022/142)

Project name: "Sustainable finance – supervisory capacity enhancement"

Scope of support:

The UKNF, together with supervisory authorities in Croatia, Malta and Romania, participated in an international project titled "Sustainable finance – supervisory capacity enhancement", implemented under the second allocation of the EU Technical Support Instrument (TSI). The project focused on the development and exchange of good supervisory practices for the application of requirements under EU law in the field of sustainable finance.

The project was financed by the European Union, managed centrally by the European Commission (Directorate-General for Structural Reform Support, DG REFORM) and implemented by a support provider under a contract awarded by the European Commission.

The UKNF’s participation in the project has helped to increase supervisory capacity in the area of sustainable finance, with a focus on compliance by supervised entities with disclosure and reporting rules. The involvement in the project has helped the UKNF face the challenges in enforcing complex and constantly evolving EU requirements. The project has also contributed to the awareness among market participants, including their better understanding of the obligations, opportunities and challenges arising from those requirements.

Main project activities included:

• EU sustainable finance legislative mapping, analysis and recommendations; 
• analysing the data needs and collection methods necessary for supervision of the EU sustainability disclosure and reporting requirements; 
• identifying good practices of other EU supervisors in order to strengthen the supervision of EU sustainability disclosure and reporting requirements; 
• providing guidance, recommendations, tools and manual for tools which may be used in SD&R supervision; and
• activities in the area of raising stakeholder awareness, including  training workshops for individual groups of supervised entities subject to ESG disclosure and reporting requirements (providing training to over 170 representatives of the financial market).

The project, which was implemented over a period of 22 months, was completed in October 2024. The method and degree of use of the project’s products in supervisory practice will be further analysed. 

The project activities  referred to the Renewed Sustainable Finance Strategy and the Action Plan: Financing Sustainable Growth, adopted by the European Commission. 

For more information, see:

• Factsheet
  
• website of the European Commission – project summary

Contact:
Joanna Lipowczan
e-mail: joanna.lipowczan@knf.gov.pl