Featured Product

    EC Announces Funding for Sustainable Finance Project in France

    February 17, 2020

    EC announced an investment for the latest projects, including a project on sustainable finance, under the LIFE program for the environment and climate action. The funding will support 10 large-scale environment and climate projects in nine member states—Cyprus, Estonia, France, Greece, Ireland, Latvia, Slovakia, Czechia, and Spain. The large-scale projects will support the European Green Deal and the EU ambition of becoming the world's first climate-neutral continent by 2050. In France, one of the projects, known as the AFFAP project, will help bridge significant knowledge gaps in the area of sustainable finance and bring green financial products into the mainstream.

    Sustainable finance is an emerging area with significant knowledge gaps. Financial experts often have limited knowledge of environmental issues and vice versa. The AFFAP project in France will bridge these gaps through actions in three areas:

    • It will work to ensure full compliance with existing and upcoming requirements on sustainable finance, for instance by upgrading the capacity needed to conduct climate-change risk analysis.
    • AFFAP will help create a level playing field for standards relating to climate risk and other environmental metrics, to inform investment decisions.
    • The project will also combine regulatory reforms, innovative tools, and communication activities to mainstream green products. In five years, all French banks and insurers will have conducted a climate-stress test.

     

    Related Links

    Keywords: Europe, EU, France, Banking, Insurance, Sustainable Finance, Life Program, Climate Change Risk, Stress Testing, ESG, EC

    Featured Experts
    Related Articles
    News

    HKMA Announces Liquidity Measures in Response to COVID-19 Outbreak

    HKMA issued a circular on liquidity measures that HKMA has taken or plans to take in response to COVID-19 outbreak.

    April 03, 2020 WebPage Regulatory News
    News

    BaFin Lowers Countercyclical Capital Buffer Amid COVID-19 Outbreak

    BaFin published a general order to lower the countercyclical capital buffer (CCyB) from 0.25% to 0% as of April 01, 2020.

    April 03, 2020 WebPage Regulatory News
    News

    ESMA Updates Risk Assessment in Light of COVID-19

    ESMA updated its risk assessment to account for the impact of the COVID-19 pandemic.

    April 02, 2020 WebPage Regulatory News
    News

    FSB Outlines and Reprioritizes Its Work to Address COVID-19 Risks

    FSB published a statement that outlines its work toward addressing the financial stability risks posed by COVID-19, along with the reprioritization of its work program for 2020.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Announces Measures to Address the Impact of COVID-19

    Due to the outbreak of COVID-19, EIOPA is re-prioritizing and alleviating the burden by extending the deadlines or delaying projects where input from national competent authorities and/or industry is foreseen.

    April 02, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Use of Payment Moratoria to Address Liquidity Issues

    EBA published detailed guidance on the treatment of legislative and non-legislative moratoria on loan repayments to be applied before June 30, 2020, in light of the COVID-19 crisis.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Outlines Approach to Reporting and Disclosures Amid COVID-19

    PRA published a statement to outline its approach to regulatory reporting and Pillar 3 disclosures for UK banks, building societies, designated investment firms, and credit unions.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Finalizes Certain Modeling Issues for Solvency II Internal Models

    PRA published a statement (PS9/20) that sets out the final policy on modeling of income-producing real estate loans and internal credit assessment for illiquid, unrated assets within the Solvency II internal models.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Issues Statement on Mitigating Impact of COVID-19 Outbreak

    EIOPA issued a statement to insurers and intermediaries, urging them to take steps to mitigate the impact of COVID-19 on consumers.

    April 01, 2020 WebPage Regulatory News
    News

    APRA on Changes to Reporting Obligations for Banks Due to COVID-19

    APRA, in collaboration with the Reserve Bank of Australia (RBA) and the Australian Bureau of Statistics (ABS), published a letter outlining temporary changes in reporting obligations for authorized deposit-taking institutions and registered financial corporations, in response to COVID-19.

    April 01, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4936