This report on ESG Disclosures Standards for nonbank financial institutions (NBFIs) covers the following areas:

1. Overview of the EU Regulation 2019/2088 on sustainability‐related disclosures for nonbank financial institutions in the financial services sector with recommendations for Ukraine on implementation;

2. Analysis of ESG Disclosure Standards (subject to the principle of proportionality), ESG factors, methodology approaches to measuring and managing ESG risks and integrating the ESG risks into the risk management framework of the firms;

3. Analysis of approaches to management of environmental and social risks with an overview of best practice with recommendations;

4. Standards for sustainable financing with an overview of best practices with recommendations.