RegAlert2026-03-06
Added
Recommendation No. 2/2026 (III.6.) of the Magyar Nemzeti Bank on the management of environmental, social and governance risks and the implementation of environmental sustainability considerations in credit institution activities
The Magyar Nemzeti Bank establishes supervisory expectations for credit institutions regarding the identification, measurement, management, and monitoring of environmental, social, and governance (ESG) risks. Institutions must integrate ESG factors into their business plans, models, and strategies, ensuring alignment with group-level risk management requirements and applicable EU regulations such as the Taxonomy Regulation, SFDR, and CSRD. The recommendation mandates that institutions maintain reliable corporate governance systems, including minimum rules for ESG risk management and specific plans with measurable targets for addressing transition risks linked to climate neutrality goals.
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Recommendation No. 2/2026 (III.6.) of the Magyar Nemzeti Bank
on the management of environmental, social and governance risks and the implementation of environmental sustainability considerations in credit institution activities
I. Purpose and Scope of the Recommendation
The purpose of this Recommendation is to define the expectations of the Magyar Nemzeti Bank (hereinafter: MNB) regarding the identification, measurement, management, and monitoring of environmental, social and governance risks (hereinafter collectively: ESG risks), as well as the implementation of environmental sustainability considerations in credit institution business activities, thereby increasing the predictability of legal application and facilitating the uniform application of relevant legislation.
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Lineage: In force
Show all related documents (9)
- Amends
- Recommendation No. 10 dated 2022-08-02not in RegAlert
- Refers to
- Directive (EU) 2024/1760 of the European Parliament and of the Council of 13 June 2024 on corporate sustainability due diligence and amending Directive (EU) 2019/1937 and Regulation (EU) 2023/2859 (Text with EEA relevance)2024Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting (Text with EEA relevance)2022Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’)2021Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (Text with EEA relevance)2020Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (Text with EEA relevance)2019Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC Text with EEA relevance2013
+2 more
Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC Text with EEA relevance2013Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance2013
Source: Magyar Nemzeti Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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