(35)

Article 98 is amended as follows: in paragraph 1, the following point is added: ; the extent to which the institutions have put in place appropriate policies and operational actions related to quantifiable targets and milestones set out in the plans to be prepared in accordance with Article 76(2).’ the following paragraphs are added: ‘9. The review and evaluation performed by competent authorities shall include the assessment of institutions’ governance and risk management processes for dealing with ESG risks, as well as of the institutions’ exposures to ESG risks. In determining the adequacy of institutions’ processes and exposures, competent authorities shall take into account the business models of those institutions. Institutions’ exposures to ESG risks shall be assessed also on the basis of institutions’ plans to be prepared in accordance with Article 76(2). Institutions’ governance and risk management processes with regard to ESG risks shall be brought into line with the objectives set out in those plans. The review and evaluation performed by competent authorities shall include the assessment of the institutions’ plans to be prepared in accordance with Article 76(2), as well as of the progress made towards addressing the ESG risks arising from the process of adjustment towards climate neutrality and towards other relevant Union regulatory objectives in relation to ESG factors. 10. The review and evaluation performed by competent authorities shall include the assessment of institutions’ governance and risk management processes for crypto-asset exposures and the provision of crypto-asset services, including by considering institutions’ policies and procedures for identifying risks, as well as the adequacy of the results of the assessments referred to in Article 79, point (e), and Article 83(4).’ ;

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.