EuGB

European Green Bond Regulation (EuGB)

Regulation (EU) 2023/2631
In forceRegulationSustainable Finance

This Regulation establishes a uniform standard for European Green Bonds (EuGB), laying down the requirements for financial and non-financial undertakings and sovereigns issuing environmentally sustainable bonds; establishes a registration and supervision system for external reviewers; and provides voluntary disclosure templates for bonds marketed as environmentally sustainable and for sustainability-linked bonds. Through uniform procedures and transparency requirements, it ensures that bond proceeds are used for environmentally sustainable economic activities, prevents greenwashing, and promotes the integration of the EU internal market and the flow of capital towards sustainable investment.

Timeline

  1. 20 Dec 2023
    Entry into force
  2. 21 Dec 2024
    European Green Bond rules apply in full
  3. 21 Dec 2024
    Registration regime for external reviewers
  4. 21 Dec 2024
    Transitional period for third-country external reviewers
  5. 21 Dec 2024Authorities
    Member States notify their penalty rules
  6. 21 Dec 2024Authorities
    Commission adopts technical standards
  7. 21 Jun 2026
    Third-country equivalence decisions apply
  8. 21 Dec 2028
    Deadline for report and evaluation

Key facts

Reference
Regulation (EU) 2023/2631
Adopted
4 Oct 2023
Published
30 Nov 2023
Status
In force
Topic
Sustainable Finance
Industries
Financial Services

Main compliance requirements

Paid members only

The main compliance requirements, applicability questions and penalties are available in the ZC Smart Compliance Hub. Paid members and clients can sign in to the Hub to view them.

View in the Smart Compliance Hub ↗Apply for Library access

Related legislation

  • Builds on Regulation (EU) 2020/852 (Taxonomy Regulation)
  • builds on Regulation (EU) 2019/2088 (Sustainable Finance Disclosure Regulation)
  • builds on Regulation (EU) 2017/1129 (Prospectus Regulation)
  • related to Regulation (EU) 2017/2402 (Securitisation Regulation)
  • related to Regulation (EU) 2018/1999 (Governance of the Energy Union)

Official sources

Regulation (EU) 2023/2631 on European Green Bonds

Full text on EUR-Lex (Regulation (EU) 2023/2631)

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