As we previously reported on June 1, 2023, the EBA articulated a common, high-level definition of greenwashing and outlined greenwashing risks, impacts, proposed mitigation efforts and challenges for the industry. We also reported on the EBA's release of its opinion on the first set of European Sustainability Reporting Standards, in which the EBA stated that the ESRS promoted "significant improvement" in climate-related disclosures and demonstrated "overall consistency with international standards and relevant EU Law." Notably, the EBA recognized how the ESRS "better align[ed] with the disclosure requirements under [the] EBA's Pillar 3 Framework."