EUGB Regulation

Regulation (EU) 2023/2631 (“EUGB Regulation”) entered into force on 20 December 2023 and will become applicable on 21 December 2024.

The EUGB Regulation lays down a uniform set of specific requirements for bonds issued by financial and non-financial undertakings and sovereigns that wish to use the designation ‘European Green Bond’ or ‘EuGB’ for such bonds. In addition, to facilitate comparison and address greenwashing, the EUGB Regulation provides optional sustainability disclosure templates for bonds marketed as environmentally sustainable and for sustainability-linked bonds.

Subject to certain exemptions, an issuer wishing to offer securities to the public or admit securities to trading on an EU regulated market under the EUGB Regulation, must first seek approval of a prospectus pursuant to Regulation (EU) 2017/1129 (“Prospectus Regulation”).  

The Central Bank of Ireland, as the designated competent authority pursuant to Article 31 of the Prospectus Regulation, shall supervise the following: 

  • issuers of European Green Bonds as regards compliance with their obligations under the EUGB Regulation Title II, Chapter 2, and Articles 18 and 19, and
  • issuers that use the common templates provided for in Article 21  EUGB Regulation as regards compliance with those templates

Responsibility for these elements will sit with Primary Markets in the Securities and Markets Supervision Directorate.

Issuers wishing to cater for the EUGB Regulation will submit their prospectuses to the Primary Markets Team using the Debt Submission Template.