EC launches consultation on sustainable finance strategy
09 April 2020 London
Image: Shutterstock
The European Commission has launched a new consultation on the renewed sustainable finance strategy, with associations such as the International Securities Lending Association (ISLA) and the Association of the Luxembourg Fund Industry (ALFI) pledging their support.
The EC’s new strategy will build upon the 2018 action plan on financing sustainable growth and will provide a roadmap with new actions to increase private investment in sustainable projects and activities to support the different actions set out in the European Green Deal.
Additionally, the initiative will manage and integrate climate and environmental risks into the financial system, and provide additional enabling frameworks for the European Green Deal Investment Plan.
Corinne Lamesch, chair of ALFI, said that sustainable finance is a “continuously evolving topic”.
Lamesch said: “How we look at sustainability going forward will definitely be influenced by the current COVID-19 crisis.”
“Work on this guidance and our sustainable agenda, in general, has highlighted that consistent definitions of key concepts and consistent implementation measures throughout the EU and beyond will be key. The ALFI technical committee on responsible investing will now be busy analysing and preparing our answer to the consultation”, she added.
ISLA explained that the aim of this public consultation is to collect the views and opinions of interested parties in order to inform the commission's renewed strategy on sustainable finance.
Andrew Dyson, CEO of ISLA, noted: “If you are part of an ISLA member firm and would like the opportunity to participate in a working group forum to help formulate ISLA's response to this important initiative, then please contact.”
The EC’s new strategy will build upon the 2018 action plan on financing sustainable growth and will provide a roadmap with new actions to increase private investment in sustainable projects and activities to support the different actions set out in the European Green Deal.
Additionally, the initiative will manage and integrate climate and environmental risks into the financial system, and provide additional enabling frameworks for the European Green Deal Investment Plan.
Corinne Lamesch, chair of ALFI, said that sustainable finance is a “continuously evolving topic”.
Lamesch said: “How we look at sustainability going forward will definitely be influenced by the current COVID-19 crisis.”
“Work on this guidance and our sustainable agenda, in general, has highlighted that consistent definitions of key concepts and consistent implementation measures throughout the EU and beyond will be key. The ALFI technical committee on responsible investing will now be busy analysing and preparing our answer to the consultation”, she added.
ISLA explained that the aim of this public consultation is to collect the views and opinions of interested parties in order to inform the commission's renewed strategy on sustainable finance.
Andrew Dyson, CEO of ISLA, noted: “If you are part of an ISLA member firm and would like the opportunity to participate in a working group forum to help formulate ISLA's response to this important initiative, then please contact.”
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