Changes to the MNB’s ESG recommendation

In 2024, the MNB published the recommendation No 9/2024 (IX.24.) on the use of a minimum set of questions to assess environmental, social and governance (ESG) information in the underwriting, measurement, management and control of credit risk. Based on recommendation 7/2025. (VI.23.), which was published on 26 June 2025, the MNB expects to apply the minimum set of questions only for those loan-applying companies that are required by law to report on sustainability and to prepare ESG reports, and beyond that reach a certain transaction limit. The amended recommendation is in line with certain provisions of the ESG risk management guidelines of the European Banking Authority on the collection of ESG information necessary for the identification, measurement, management and monitoring of ESG risks.

In order to reduce the administrative burden on companies, the MNB further approximated the set of questions set out in the amended recommendation to the requirements of the ESG report ruled by the Act CVIII of 2023 laying down the rules of corporate social responsibility taking into account environmental, societal and social considerations to promote sustainable finance and unified corporate responsibility, and amending certain related Acts.

The ESG recommandation can be found here.