1.   Issuers of bonds marketed as environmentally sustainable that choose to disclose voluntarily the information referred to in Article 21 of Regulation (EU) 2023/2631 shall do so for each 12-month period until the date of full allocation of the proceeds of those bonds. Issuers of sustainability-linked bonds that choose to disclose such information voluntarily shall do so for each 12-month period until the last sustainability-target observation.

2.   The first 12-month period referred to in paragraph 1 shall begin on the issuance date of the bonds concerned.

3.   Issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds may set the end date of the first reporting period as the last day of the calendar year or of the financial year of issuance.

4.   Issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds that obtain an external review of their periodic post-issuance disclosures shall disclose such post-issuance information within 270 days of the end of every 12-month period referred to in paragraph 1.

5.   Issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds that do not obtain an external review of their periodic post-issuance disclosures shall disclose such post-issuance information within 150 days of the end of every 12-month period referred to in paragraph 1.