Featured Product

    EU and Several Countries Launch Global Platform on Sustainable Finance

    October 18, 2019

    EU launched the International Platform on Sustainable Finance (IPSF), along with the relevant authorities from Argentina, Canada, Chile, China, India, Kenya, and Morocco. Valdis Dombrovskis, Vice-President for the Euro and Social Dialog, also in charge of Financial Stability, Financial Services and Capital Markets Union, will introduce the newly created platform in the presence of Kristalina Georgieva, Managing Director of IMF, along with the IPSF members' and observers' representatives, at the IMF and World Bank Group Annual Meetings, in Washington D.C. This initiative is part of the international efforts to meet the Paris Agreement commitments. EC also published a joint statement and frequently asked questions (FAQs), along with the remarks of Valdis Dombrovskis on the launch of IPSF.

    To reach the Paris targets, trillions of investments in sustainable infrastructure will be needed over the next decades. For Europe alone, additional financing in the range of EUR 175 and 290 billion per year will be necessary. The launch of this Platform is essential to stimulate investment and redirect capital flows toward the climate objectives at the scale required for the most important economic transition. The IPSF will act as a forum for facilitating exchanges and, where relevant, coordinating efforts on initiatives and approaches to environmentally sustainable finance, while respecting national and regional contexts. It will focus on environmentally sustainable initiatives in the areas of taxonomies, disclosures, standards, and labels, all issues that are fundamental for investors to identify and seize green investment opportunities worldwide. The IPSF is supported by the Coalition of Finance Ministers for Climate Action, the European Bank for Reconstruction and Development, the European Investment Bank, the International Organization of Securities Commissions, the Network for Greening the Financial System, the Organization for Economic Co-operation and Development, and the United Nations Environment Program—Finance Initiative, in their role of observers.

     

    Related Links

    Keywords: International, Europe, EU, Banking, Securities, Sustainable Finance, FAQ, IPSF, NGFS, Climate Change Risk, ESG, EC

    Featured Experts
    Related Articles
    News

    HKMA Publishes Hong Kong Taxonomy for Sustainable Finance

    The Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance.

    May 21, 2024 WebPage Regulatory News
    News

    EU Taking Steps to Set Out and Enforce AI Regulations

    Many believe that the transformative power of generative artificial intelligence (GenAI) has potential to reshape the financial sector in the time to come.

    May 21, 2024 WebPage Regulatory News
    News

    ISSB Releases Digital Sustainability Disclosures Taxonomy

    The themes of the harmonization and interoperability of sustainability disclosure standards among various jurisdictions remain at the top-of-mind for international standard-setting bodies.

    May 21, 2024 WebPage Regulatory News
    News

    BCBS Report Studies Implications of Digitalization of Finance

    The Basel Committee on Banking Supervision (BCBS) published a report that examines the implications of the digitalization of finance for banks and supervisors.

    May 21, 2024 WebPage Regulatory News
    News

    BCBS Consults on Guidelines for Counterparty Credit Risk Management

    The Basel Committee on Banking Supervision (BCBS) is seeking comments, until August 28, 2024, on guidelines for counterparty credit risk management of banks.

    May 21, 2024 WebPage Regulatory News
    News

    BIS Paper Outlines Vision for Future Financial System

    In a recent paper, the General Manager of Bank for International Settlements (BIS) and the Indian entrepreneur (Infosys co-founder) Nandan Nilekani have laid out a vision for the Finternet, which is proposed to be a network of multiple financial ecosystems, much like the internet.

    April 29, 2024 WebPage Regulatory News
    News

    NGFS Outlines Options for Supervisory Review of Transition Plans

    The Network for Greening the Financial System (NGFS) recently published three reports on the use of transition plans to boost sustainable finance and manage climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    BCBS Issues Discussion Paper on Climate Scenario Analysis

    The Basel Committee on Banking Supervision (BCBS) issued a discussion paper on the use of climate scenario analysis to strengthen the management and supervision of climate-related financial risks.

    April 29, 2024 WebPage Regulatory News
    News

    OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.

    April 25, 2024 WebPage Regulatory News
    News

    CFIT to Chair Open Finance Taskforce Announced by UK Government

    The UK government announced the formation of an industry-led Open Finance Taskforce, chaired by the Center for Finance, Innovation, and Technology (CFIT).

    April 25, 2024 WebPage Regulatory News
    RESULTS 1 - 10 OF 8967