Following the ECB’s action plan, work is underway to develop an advanced ESG data model in the Centralised Securities Database (CSDB), identifying all types of sustainable bonds. [10] By expanding this reference database, the new data model will allow the classification of bonds in the four main ESG categories: green, social, sustainable and sustainability-linked.
It will provide information on sustainability level by flagging the bonds as “self-labelled”, ”verified by a second party” and “fully certified”. Furthermore, information on the standards to which each sustainable bond is aligned will be also available. Following this step, work on the development and inclusion of the first ESG indicators in aggregated statistics will be initiated in the second quarter of 2022.