The European Securities and Markets Authority (ESMA) and the European Environment Agency (EEA) have signed a Memorandum of Understanding (MoU) to collaborate further on issues relating to sustainable finance.
Through the agreement, the two bodies will exchange expertise, information and data with each other to EU support the application and supervision of sustainable finance legislation. They will also work together to facilitate collaboration between national regulators and national authorities responsible for environmental protections.
One area of collaboration highlighted in the MoU is sustainability reporting. In its 2024 report on Greenwashing, ESMA identified the need to strengthen its collaboration with the EEA on sustainability-related disclosures. Meanwhile, the EEA has adopted the strategic objective of building stronger and strengthening collaboration with international institutions on reporting obligations.
ESMA and the EEA said in a joint statement: “Both institutions recognise that their close cooperation on these tasks and activities will bring mutual benefits and synergies through preventing duplication of efforts, and ultimately contribute to addressing the significant challenges related to biodiversity, climate change and pollution.”