EBF CONSULTATION RESPONSE
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EBF’s Response to EFRAG’s VSME Exposure Draft consultation

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BRUSSELS, 13^th February 2024  – The European Banking Federation (EBF) welcomes EFRAG’s proposal for a Voluntary Standard for non-listed SMEs (VSME). The collection of ESG information from clients of all sizes constitutes a crucial element for banks to understand their clients’ performance, commitments, and risks as well as their own.

The EBF, therefore, agrees with the standard setting objective EFRAG sets for the VSME, however, we would like to highlight the importance of striking a balance between the information needs of stakeholders and the ability of smaller players to provide ESG information.

In our response you can find feedback to the Exposure Draft published by EFRAG, including which information sets are relevant for the European banking sector and our suggestions for improvement.

For more information please contact:

Alexia Femia
Sustainable Finance Policy Adviser, a.femia@ebf.eu

Gianluca Manca
Head of Sustainability at Eurizon Capital, g.manca@ebf.eu

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About the EBF:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.