Featured Product

    EC Vice President on Sustainable Finance and Capital Markets Union

    June 06, 2017

    The EC Vice President Valdis Dombrovskis spoke, at the European Parliament, about sustainable finance as a dimension of the Capital Markets Union project. While talking about implications of climate change, he discussed the importance of the Paris agreement and the need for clean energy, also highlighting that the EU is already at the forefront of integrating sustainability in financial regulation.

    The EC Vice President expressed regret about the decision of the Trump Administration to withdraw from the Paris agreement. However, he said that the Paris agreement will not be reversed. As of next year, large companies listed in EU markets will be required to disclose relevant information on environmental, governance, social, and human rights aspects of their business activities. "Here we are also following the work of the Financial Stability Board on climate-related financial disclosures. So we took their recommendations into account as much as possible in our guidelines on non-financial reporting, which we will adopt at the end of this month," said the EC Vice President.

     

    He also emphasized that its key project of the Capital Markets Union also has a strong sustainability dimension. "Over the past 20 months, we have delivered more than half (20/33) of the measures announced in our Action Plan, which will help free up funding for businesses in all stages of their development, to fuel innovation and growth, " said Mr. Dombrovskis. He also mentioned that the mid-term review of the Capital Markets Union proposes some new examples of work that needs to be delivered: "We need to be consistent throughout the investment chain in integrating green and sustainability considerations, for example by clarifying fiduciary duties of asset owners and asset managers. We will need to look at rating methodologies, as well as the investment mandates of institutional investors and asset managers. Above all, we are proposing to evaluate sustainability considerations systematically as part of upcoming reviews of financial legislation."

     

    Related Link: Speech

    Keywords: Europe, EC, Securities, Sustainable Finance, Capital Markets Union

     


    Related Articles
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Publishes Waiver by Consent of Continuity of Access Rules

    PRA published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook (DPP).

    September 13, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    ISDA Guide on Collateral Management Under Smart Derivatives Contracts

    ISDA published the third in a series of legal guidelines for smart derivatives contracts.

    September 12, 2019 WebPage Regulatory News
    News

    ESA Report Highlights Risks of No-Deal Brexit in EU Financial System

    ESAs published a Joint Committee report on risks and vulnerabilities in the EU financial system.

    September 12, 2019 WebPage Regulatory News
    News

    ECB Modifies New Targeted Longer-Term Refinancing Operations

    The Governing Council of ECB decided to modify some of the key parameters of the third series of targeted longer-term refinancing operations (TLTRO III) to preserve favorable bank lending conditions (Decision (EU) 2019/1558).

    September 12, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3819