Joint ESAs 2024 Annual Report Highlights Cross-Sectoral Efforts on Risk, Digital Resilience & Sustainable Finance

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – collectively the ESAs) has today released its 2024 Annual Report, offering a comprehensive overview of its collaborative work in promoting financial stability, market integrity and consumer protection across the European Union.

Key Themes in Cross-Sectoral Supervision

In 2024, the Joint Committee maintained its pivotal role in coordinating supervisory activities among the ESAs, with ESMA chairing the Committee throughout the year. Together with the European Commission and the European Systemic Risk Board (ESRB), the three authorities continued to foster cooperation and consistency across banking, insurance, pensions and financial markets.

The core areas of joint focus included:

• Joint risk assessments to anticipate systemic vulnerabilities

• Sustainable finance, with a particular emphasis on enhancing disclosures and mitigating greenwashing risks

• Operational risk and digital resilience, especially regarding the implementation of the Digital Operational Resilience Act (DORA)

• Consumer protection and financial innovation, ensuring fair treatment and adapting to technological evolution

• Securitisation oversight and the supervision of financial conglomerates

• Advancements in the European Single Access Point (ESAP) initiative to improve access to financial and sustainability information

  
  

Major Deliverables & Legislative Contributions

Among its most impactful outputs, the Joint Committee produced key policy instruments for DORA implementation, aimed at harmonising digital risk management practices across the EU's financial sector. These efforts support the financial system’s resilience against cyber threats and ICT-related incidents.

In addition, the ESAs continued their collective work on the Sustainable Finance Disclosure Regulation (SFDR), contributing to the development of regulatory frameworks that align financial flows with the EU’s environmental and social objectives.

About the Joint Committee

The Joint Committee serves as a platform for structured dialogue and coordination between the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA). It is instrumental in ensuring supervisory convergence and consistency of regulatory practices across sectors.

Through regular exchanges of information and joint assessments, the ESAs aim to enhance the stability and integrity of the European financial system, while promoting a level playing field and strengthening consumer confidence.

Read the press release here.

Read the report here.