The Austria Financial Market Authority (FMA) has published a fundamentally revised cross-sector Guide for Managing Sustainability Risks, updating its guidance to supervised entities on how to consider environmental, social, and governance (ESG) risks within business activities and risk management. The guide is intended to support a common understanding of sustainability risks and align firms’ approaches with evolving regulatory developments and supervisory expectations. Beyond general updates to the 2020 guide, the revision introduces new coverage of natural and biodiversity risks and of transition planning and transition plans. It also expands discussion of climate adaptation, litigation risks, and greenwashing risks, and updates and extends the annex that summarises tools and methodologies used to manage sustainability risks. The updated guide is available for download and is currently only published in German.
Austria Financial Market Authority 2025-03-31
Austria Financial Market Authority publishes fundamentally revised cross-sector guide on managing sustainability risks
The Austria Financial Market Authority has released a revised cross-sector Guide for Managing Sustainability Risks, enhancing guidance on environmental, social, and governance (ESG) risks. Key updates include coverage of natural and biodiversity risks, transition planning, and expanded discussions on climate adaptation and greenwashing risks. The guide, available only in German, aims to align firms with evolving regulatory developments and supervisory expectations.