The new guidelines on reporting climate-related information integrate the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD) of the Financial Stability Board (FSB). 

In short, the new guidelines:

• accompany and are consistent with the EU Non-Financial Reporting Directive published in November 2014;
• supplement the general guidelines on non-financial reporting published in July 2017, which are still applicable;
• are based on proposals from Technical Expert Group (TEG) on Sustainable Finance published in January 2019;
• integrate the recommendations of the TCFD published in June 2017; and
• are not legally binding.

The new guidelines can be downloaded from the EC website, which also offers a press release, a short summary of the guidelines, and frequently asked questions.

In addition, the Commission welcomes three important expert reports published by the TEG on sustainable finance (all links to the EC website):

• A taxonomy for environmentally-sustainable economic activities that provides practical guidance for policy makers, industry and investors on how best to support and invest in economic activities that contribute to achieving a climate neutral economy.
• A report on an EU Green Bond Standard recommending clear and comparable criteria for issuing green bonds.
• A report on EU climate benchmarks and benchmarks' ESG disclosures setting out the methodology and minimum technical requirements for indices that will enable investors to orient the choice of investors who wish to adopt a climate-conscious investment strategy, and address the risk of greenwashing.