FEM logo
Fund EcoMarket

the sustainable, responsible and ethical investment information hub

EU Announces Sustainable Finance Action Plan

March 15th, 2018

EU HLEGOn 8 March 2018 the EU published its response to the Sustainable Finance HLEG (High Level Expert Group) report issued in January.

 Go to the new EU Sustainable Finance information here.

The report is accompanied by an action plan and an event which will be live streamed on 22 March.

I am yet to digest the report, however this excerpt from their published information appears to be the most pertinent:

===

Commission action plan on sustainable finance

The recommendations of the HLEG form the basis of the action plan on sustainable finance adopted by the Commission in March 2018.

The action plan sets out a comprehensive strategy to further connect finance with sustainability. Its key actions include

  • establishing a clear and detailed EU classification system – or taxonomy – for sustainable activities. This will create a common language for all actors in the financial system
  • establishing EU labels for green financial products. This will help investors to easily identify products that comply with green or low-carbon criteria
  • introducing measures to clarify asset managers’ and institutional investors’ duties regarding sustainability
  • strengthening the transparency of companies on their environmental, social and governance (ESG) policies. The Commission will evaluate the current reporting requirements for issuers to make sure they provide the right information to investors
  • introducing a ‘green supporting factor’ in the EU prudential rules for banks and insurance companies. This means incorporating climate risks into banks’ risk management policies and supporting financial institutions that contribute to fund sustainable projects

The Commission is organising a live streamed high level conference on 22 March 2018 .

 

===

Sign Up to our Newsletter

If you are a Financial Services Industry professional you can sign up for our newsletter

Click Here

Latest News

London Climate Week – (free) Excel event tickets – 28 & 29 June
June 15, 2022

  London Climate Week event on 28 & 29 June  I happily agreed to become involved with a major London Climate Week event run by Reset Connect some time ago. The event is now only two weeks away. I did so mostly because I am always keen to help and encourage intermediaries to learn about climate issues […]

A collection of responses to HSBC’s Kirk extraordinary climate speech
May 27, 2022

Earlier this week I set out my initial response to HSBC’s head of Responsible Investment – Stuart Kirk’s – extraordinary presentation on climate risk  (see blog linked below). In the interest of understanding different points of view – here is a collection of  articles and opinions about his speech that we believe are relevant to […]

‘Man who jumps on bandwagon accuses fellow passengers of being on bandwagon’
May 23, 2022
HSBC

…and has now been rightly suspended by HSBC. There is so much to say on this story, but let me start by saying I have no desire to ‘bash’ HSBC. Big banks are imperfect and have, in my view, propped up the fossil fuel industry for far too long – but that is not what […]