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
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Keywords: Europe, EU, Banking, Insurance, Securities, Sustainable Finance, ESG, Climate Change Risk, Platform on Sustainable Finance, Taxonomy Regulation, EC
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