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.
Previous Article
Bundesbank Publishes Plausibility Checks for SHS ReportingRelated Articles
EBA Proposes Standards for IRRBB Reporting Under Basel Framework
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
FED Issues Further Details on Pilot Climate Scenario Analysis Exercise
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
