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ESMA consults on rules for external reviewers of European Green Bonds

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The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its Consultation Paper on the remaining Regulatory Technical Standards (RTS) for external reviewers under the European Green Bonds Regulation.

The RTS relate to the following aspects of the external reviewer regime:

  • appropriateness, adequacy and effectiveness of systems, resources and procedures;
  • authority, resources, expertise and access to relevant information of the compliance function;
  • soundness of administrative and accounting procedures, internal control mechanisms and effectiveness of information systems controls;
  • quality and reliability of sources of the information used for external reviews;
  • information, form and content of applications for recognition; and
  • notification of material changes in the information provided at registration.

ESMA considers that these technical standards will enhance the robustness and transparency of external reviews of European Green Bonds and in turn boost investors’ confidence that their capital is genuinely driving the green transition.

The first consultation on RTS for external reviewers under the European Green Bonds Regulation took place in 2024.

Next steps

ESMA will consider the feedback received to the consultation by 30 May 2025 and expects to publish a Final Report and submit the draft RTS to the European Commission for adoption by 21 December 2025 at the latest. The technical standards will also be subject to non-objection by the European Parliament and Council.

ESMA particularly encourages external reviewers operating during the transitional regime or intending to apply to become an ESMA-registered external reviewer of European Green Bonds to participate in the consultation.

Further information:

Dan Nacu-Manole

Communications Officer
[email protected]

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Record number of alerts in 2024 for dangerous non-food products in the EU

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Habitats directive: Council agrees on the targeted proposal to change the protection status of the wolf

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Today, member states’ representatives (Coreper) approved the Council’s mandate on changing the protection status of the wolf, aligning EU legislation with the updated Bern Convention. The mandate includes a targeted amendment of the habitats directive – the EU law that implements the Bern Convention – to reflect the revised protection level of wolves from ‘strictly protected’ to ‘protected’.

The objective is to provide more flexibility in managing wolf populations across EU countries, in order to improve coexistence and to minimise the impact of the growing population of the species, including socioeconomic challenges. Member states may have stricter protection levels in place.

The Council’s position contains no changes vis-à-vis the initial Commission’s proposal on this targeted amendment of the habitats directive.

Member states’ representatives endorsed the objective of aligning EU legislation with the recent decision of the Bern Convention which entered into force on 7 March 2025, following the EU proposal to modify the protection status of the wolf from strictly protected to protected species.

While wolves would no longer be under the status of strictly protected species, member states should still ensure the wolf favourable conservation status and apply monitoring measures which may lead to temporary or local bans on hunting. Moreover, EU funding and support will still be available for coexistence and prevention measures and state aids for compensating affected farmers may remain in place.

However, member states still have the possibility to list the wolf as a strictly protected species in their national legislation, and to have stricter measures in place for its protection.

Next steps

The European Parliament aims to adopt its position in May 2025. If this position is identical to the Council’s mandate, the Council will then formally adopt the amending directive.

Background

The Bern Convention, which was adopted in 1979 and entered into force in 1982, is an international treaty under the aegis of the Council of Europe which aims to ensure the conservation and protection of wild plant and animal species and their natural habitats.

To this end, the convention imposes legal obligations on contracting parties, protecting over 500 wild plant species and more than 1 000 wild animal species.

Its decision-making body, the Standing Committee, meets every year in Strasbourg. The EU and its member states are parties to the Bern Convention.

On 20 December 2023, the Commission forwarded to the Council a proposal for a decision to adapt the protection status of the wolf under the Bern Convention. Changing the protection status of the wolf under the Bern Convention is a prerequisite for any corresponding changes to its status at EU level. On 26 September 2024, the Council adopted a decision to submit, on behalf of the European Union, a proposal to amend the conservation status of the wolf. The decision of the Bern Convention entered into force on 7 March, allowing the EU to adapt the corresponding laws.

The conservation status of the wolf has shown a positive trend over the last few decades. The species has successfully recovered across the European continent, and the estimated population has almost doubled in 10 years (from 11 193 in 2012 to 20 300 in 2023).

This continued expansion has led to socio-economic challenges, in particular as regards coexistence with human activities and damage to livestock. According to the latest available data from member states, wolves are estimated to kill at least 65 500 heads of livestock each year in the EU.

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We’re Moving In: A New Home for AMLA in Frankfurt

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We’re Moving In: A New Home for AMLA in Frankfurt

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We’re excited to share a major milestone for AMLA —we have officially signed a lease for our new office space in Frankfurt!

Our future home will be located in the iconic MesseTurm, where we’ll be occupying the top floors. The lease agreement marks the beginning of our permanent presence in Frankfurt and our long-term commitment to the city.

This is a big step for AMLA as we establish our first-ever official seat. With sweeping views from the upper floors and modern office infrastructure, our new space will support a dynamic, collaborative work environment and position us to deliver on our mission.

“After kindly being hosted in the building since the start of the year, we are excited to make our long-term stay in the building official,” said Bruna Szego the Chair of AMLA. “We look forward to continuing our work in this vibrant and welcoming environment, and to deepening our connection with the city of Frankfurt.”

We’re thrilled to become part of the Frankfurt community and contribute to the city’s growth, innovation, and international relevance.

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