TISA publishes market-leading Best Practice Guide to completing the European ESG Template (EET)
- The EET is a cross-sectoral data standards template that incorporates the views of the banking, asset management, structured product, insurance, and pensions industries.
- The TISA EET Best Practice Guide is designed to specify the data required for each section in the first phase of the EET from an operational perspective, and therefore to allow for easy implementation of the EET.
- This is a significant step towards the standardisation ESG data and therefore towards the transparent reporting of the ESG commitments of financial services providers.
15 June 2022: The Investing and Saving Alliance (TISA) today announced it has launched a Best Practice Guide to assist industry participants who wish to complete the European ESG Template (EET). The Best Practice Guide will aid financial service providers in adopting the EET for internal and external dataflows.
The EET is a cross-sectoral template comprising the views of the banking, asset management, structured product, insurance, and pensions industries. It was developed as an industry initiative designed to standardise data exchange between these industry participants. It is designed to support compliance with regulation and provide a template for operational adoption.
The TISA EET Best Practice Guide is designed to specify the data required for each section in the first phase of the EET from an operational perspective, and therefore to allow for easy adoption of the EET. It will outline the regulatory requirements the data is designed to meet, and the preferred methodologies for use in completing the EET.
Jeffrey Mushens, Technical Policy Director at TISA, said: “The creation of the EET template was a vital step towards making ESG reporting transparent, straightforward, and comparable. That the industry came together in such an efficient and effective way was a key moment in the implementation of ESG requirements and therefore a vital step towards improving the sustainability of our industry.”
“However, practical implementation of the EET can pose several operational questions. This Best Practice Guide will support a smooth and seamless adoption of the template across the industry, and we are therefore very pleased to be able to play our part and support our industry.”
Kyra Brown, Consultant at Kandor and Chair of the TISA EET Working Group, said: “It was a pleasure to work with such a hard-working and dedicated group of people to put this guide together. ‘There were some limits to how far we could go in terms of providing explanations where the legal requirements of the SFDR RTS are not yet in force, or that might be considered interpretation where there is ambiguity on the regulatory requirements, but this will improve as the regulatory environment matures.”
“The FinDatEx EET V1.0 is the product of a tremendous collaborative effort by cross industry participants, but the complexity is recognised even by those who were involved in its development. We hope the TISA Best Practice Guide will be of some help to the wider industry as they complete the EET V1.0 for the first time.”
Download the EET Best Practice Guide here: https://www.tisa.uk.com/european-esg-template/
-ENDS-