EC Announces Members of Platform on Sustainable Finance
EC published the list of members of the Platform on Sustainable Finance and appointed Nathan Fabian, from the UN Principles for Responsible Investment (PRI), as the Chair of the Platform. Mr. Fabian has served as rapporteur for the taxonomy sub-group of the Technical Expert Group on Sustainable Finance (TEG) and he has fifteen years of experience in sustainable finance in government policy, investment research and ratings on companies, and the development of investment processes and tools. The Platform will advise EC on the development of technical screening criteria for the EU taxonomy and policy development, among other things, as required by the Taxonomy Regulation.
The Platform is an advisory body subject to the EC's horizontal rules for expert groups and is made up of experts from the private and public sector. In response to the call for applications published in June 2020, EC has selected 50 members and 9 special observers on the basis of their environmental, sustainable finance, or social/human rights expertise. The member list includes individuals from organizations such as BusinessEurope, Climate Bonds Initiative (CBI), Finance Watch, Green and Sustainable Finance Cluster Germany, Global Reporting Initiative (GRI), International Capital Market Association (ICMA), Bloomberg, and BNP Paribas. The directly appointed members according to Article 20 of the Taxonomy Regulation are EBA, EIOPA, ESMA, European Environment Agency (EEA), European Investment Bank (EIB), European Investment Fund (EIF), and European Union Agency for Fundamental Rights (FRA). This group of experts will have four main tasks
- Advise EC on the technical screening criteria for the EU Taxonomy, including on the usability of the criteria
- Advise EC on the review of the Taxonomy Regulation and on covering other sustainability objectives, including social objectives and activities that significantly harm the environment
- Monitor and report on capital flows toward sustainable investments
- Advise EC on sustainable finance policy more broadly
Related Links
Keywords: Europe, EU, Banking, Insurance, Securities, Sustainable Finance, ESG, Climate Change Risk, Platform on Sustainable Finance, Taxonomy Regulation, EC
Featured Experts
Michael Denton, PhD, PE
Dr. Denton provides industry leadership in the quantification of sustainability issues, climate risk, trade credit and emerging lending risks. His deep foundations in market and credit risk provide critical perspectives on how climate/sustainability risks can be measured, communicated and used to drive commercial opportunities, policy, strategy, and compliance. He supports corporate clients and financial institutions in leveraging Moody’s tools and capabilities to improve decision-making and compliance capabilities, with particular focus on the energy, agriculture and physical commodities industries.
James Partridge
Credit analytics expert helping clients understand, develop, and implement credit models for origination, monitoring, and regulatory reporting.
Previous Article
SARB Publishes Update on COVID-19 Loan Guarantee SchemeRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
