The 2025 Change to NACE Codes and its impact on Banks: A focus on Taxonomy Reporting, Client Activity Analysis, and CCR Reporting

The upcoming changes to the NACE (Nomenclature of Economic Activities) codes in 2025 are expected to have significant implications for banks, particularly regarding the European Union’s taxonomy reporting for green assets, the analysis of client activities, and compliance with local regulatory requirements, such as reporting to the Central Credit Register (CCR).

Continue reading for specific insights into the revised classifications for economic activities and their impact on how banks assess, report, and manage risks associated with sustainable finance.