The European Parliament has adopted its final position on the Banking package. ESG requirements have been strengthened as the text will oblige banks to adopt climate transition plans to address ESG risk, focusing on the EU objective of achieving climate neutrality by 2050, and will impose disclosure requirements. In addition, MEPs addressed the suitability of members of management bodies, which should be sufficiently diverse and gender-balanced to present independent opinions and respond to challenges. The trialogue negotiations between the European Commission, Council, and Parliament can now begin and should be concluded before the end of this year.