General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
March 06, 2019

The Technical Expert Group on Sustainable Finance (TEG), which EC had set up in July 2018, published an interim report on its preliminary recommendations for the development of an EU Green Bond Standard, along with the status of the work conducted so far (as of February 2019). Stakeholders can comment on the interim report by responding to a targeted questionnaire by April 03, 2019.

The interim report presents the status of the work conducted so far (as of February 2019) on the EU Green Bond Standard (by TEG), provides a rationale for action, and explains how such a standard should be developed and implemented in Europe. The report proposes the content of a draft EU Green Bond Standard (Annex 1), explains the purpose of the standard, sets the ambition level, and explains how the creation of the EU Green Bond Standard will address barriers to market development. The report also provides a preliminary guidance to EC on the proposed way forward for the EU Green Bond Standard, including the creation of a centralized accreditation regime for external verifiers, and proposes possible legislative initiatives or amendments. Finally, the report elaborates on possible incentives, based on the EU Green Bond Standard, to enhance the growth of green bond issuance and the links with other sustainable financing instruments in a wider context. The report should also feed into the work being launched in parallel by EC on the potential EU Ecolabel for green financial products.

The proposed voluntary EU Green Bond Standard by TEG is compatible with the existing market practices and builds on these market practices. The standard would rely on a strong verification and accreditation structure and will be closely linked to the new EU-wide classification system for environmentally sustainable economic activities (EU taxonomy). Feedback is requested on key barriers to the development of the green bond market, eligible use of proceeds raised, reporting and verification requirements, and possible incentives to help the European green bond market grow. The results of this exercise will feed into the work of the TEG and its final recommendations to EC, which will be presented in June 2019.

 

Related Links

Comment Due Date: April 03, 2019

Keywords: Europe, EU, Banking, Securities, Sustainable Finance, Green Bond Standard, TEG, EC

Related Articles
News

EP Resolution on Proposal for Sovereign Bond Backed Securities

The European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).

April 16, 2019 WebPage Regulatory News
News

FDIC Consults on Approach to Resolution Planning for IDIs

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.

April 16, 2019 WebPage Regulatory News
News

HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%

HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.

April 16, 2019 WebPage Regulatory News
News

EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2

The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.

April 16, 2019 WebPage Regulatory News
News

PRA Seeks Input and Issues Specifications for Insurance Stress Tests

PRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.

April 15, 2019 WebPage Regulatory News
News

PRA Finalizes Policy on Approach to Managing Climate Change Risks

PRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).

April 15, 2019 WebPage Regulatory News
News

EC Launches Pilot Phase on Implementation of Ethical Guidelines for AI

EC launched a pilot phase to ensure that ethical guidelines for the development and use of artificial intelligence, or AI, can be implemented in practice.

April 15, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for April 2019

EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.

April 12, 2019 WebPage Regulatory News
News

EIOPA Statement on Application of Proportionality in SCR Supervision

EIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.

April 11, 2019 WebPage Regulatory News
News

FED Updates Form and Supplemental Instructions for FR Y-9C Reporting

FED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.

April 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2920