Featured Product

    EC Consults on Renewed Sustainable Finance Strategy

    April 08, 2020

    EC is consulting on the Renewed Sustainable Finance Strategy, which is an integral part of the European Green Deal and of the overall efforts to ensure a sustainable and resilient economic recovery, following the COVID-19 outbreak. The consultation is intended to collect views and opinions to feed into the work to help mobilize private investment in sustainable projects. EC aims to adopt the Renewed Sustainable Finance Strategy in the second half of 2020. The consultation will be open until July 15, 2020.

    This renewed strategy will build on previous initiatives and reports, such as the 2018 EC Action Plan on Financing Sustainable Growth and the reports of the Technical Expert Group on Sustainable Finance. The renewed sustainable finance strategy will provide a roadmap, with new actions to increase private investment in sustainable projects and activities to support the actions set out in the European Green Deal. The initiative will also provide additional enabling frameworks for the European Green Deal Investment Plan. Within the broader context of the European Green Deal Investment Plan, the Renewed Strategy will focus on three areas:

    • Strengthening the foundations for sustainable investment by creating an enabling framework, with appropriate tools and structures. Many financial and non-financial companies still focus excessively on short-term financial performance, instead of the long-term development and sustainability-related challenges and opportunities.
    • Increased opportunities to have a positive impact on sustainability for citizens, financial institutions, and corporates. The aim is to maximize the impact of the frameworks and tools to “finance green.”
    • Climate and environmental risks will need to be fully managed and integrated into financial institutions and the financial system as a whole, while ensuring social risks are duly taken into account, where relevant. Reducing the exposure to climate and environmental risks will further contribute to greening the finance.


    Related Links

    Comment Due Date: July 15, 2020

    Keywords: Europe, EU, Banking, Insurance, Securities, Sustainable Finance, Climate Change Risk, ESG, European Green Deal, Social Risk, EC

    Related Articles
    News

    BIS Examines Use of Big Data and Machine Learning at Central Banks

    BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.

    March 04, 2021 WebPage Regulatory News
    News

    APRA Finalizes Reporting Standard for Operational Risk Requirements

    APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.

    March 03, 2021 WebPage Regulatory News
    News

    ECB Publishes Guide for Determining Penalties for Regulatory Breaches

    ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.

    March 02, 2021 WebPage Regulatory News
    News

    MAS Sets Out Good Practices to Manage Operational Risks Amid COVID

    MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.

    March 02, 2021 WebPage Regulatory News
    News

    ACPR Announces New Data Collection Application for Banks and Insurers

    ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.

    March 02, 2021 WebPage Regulatory News
    News

    BCB Maintains CCyB at 0%, Initiates First Cycle of Regulatory Sandbox

    BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.

    March 02, 2021 WebPage Regulatory News
    News

    EIOPA Launches Study on Non-Life Underwriting Risk in Internal Models

    EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.

    March 01, 2021 WebPage Regulatory News
    News

    SRB Publishes Overview of Resolution Tools Available in Banking Union

    SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.

    March 01, 2021 WebPage Regulatory News
    News

    EBA Consults on Pillar 3 Disclosure Standards for ESG Risks Under CRR

    EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).

    March 01, 2021 WebPage Regulatory News
    News

    ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting

    ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting

    March 01, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6655