On March 12, 2021, ISDA submitted a response to the European Commission’s (EC) consultation on the establishment of a European Single Access Point (ESAP) for financial and non-financial data. In its response, ISDA endorses the creation of ESAP, highlighting the benefits for cross-border access to meaningful information and the reporting of environmental, social and governance-related information. With respect to the scope of ESAP, ISDA recommends that the eventual administrators of ESAP should focus on a small number of data points at the initial stage, characterized by low-frequency and raw company level data, such as data resulting from the Transparency Directive, Accounting Directive and Audit Directive as well as the revised Non-Financial Reporting Directive. In addition, the ISDA response discusses the usability and data governance of ESAP by highlighting the potential benefits of the Common Domain Model.
The EC is expected to launch a legislative proposal on the creation of ESAP in the second half of 2021.
Documents (1) for ISDA Endorses Creation of ESAP
Latest
Response on Commodity Derivatives Markets
On April 22, ISDA and FIA submitted a joint response to the European Commission’s (EC) consultation on the functioning of commodity derivatives markets and certain aspects relating to spot energy markets. In addition to questions on position management, reporting and...
Episode 50: The Value of Derivatives
A new report from ISDA shows that companies all over the world use derivatives to alleviate uncertainty, transfer risk and enhance profitability. ISDA discusses the findings with Boston Consulting Group’s Roy Choudhury. Please view this page via Chrome to access...
ISDA/IIF Response to EC Market Risk Consultation
On February 22, ISDA and the Institute of International Finance (IIF) submitted a joint response to the European Commission’s (EC) consultation on the application of the market risk prudential framework. The associations believe the capital framework should be risk-appropriate and...
ISDA Submits Letter on Environmental Credits
On April 15, ISDA submitted a response to the Financial Accounting Standards Board’s (FASB) consultation on environmental credits and environmental credit obligations. The response supports the FASB’s overall proposals to establish clear and consistent accounting guidance for environmental credits, but...