| Author (Corporate) | High-Level Expert Group (HLEG) on Sustainable Finance |
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| Publication Date | January 2018 |
| Content Type | Report |
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Summary: Report published by the High-Level Expert Group (HLEG) on Sustainable Finance in January 2018, setting out strategic recommendations for a financial system that is able to support sustainable investments. Its input contributed to the drafting of the European Commission's strategy on sustainable finance. Further information: The report by the HLEG on sustainable finance maps out the challenges and opportunities that the European Union faces in developing a sustainable finance policy. It identifies ways in which the financial sector can re-connect with the real economy to support the transition to a more resource-efficient and more circular economy. The group argues that reorienting investment flows into long-term, sustainable projects will also improve the stability of the financial system. The report proposes: a classification system, or 'taxonomy', to provide market clarity on what is 'sustainable'; clarifying the duties of investors' when it comes to achieving a more sustainable financial system; improving disclosure by financial institutions and companies on how sustainability is factored into their decision-making; an EU-wide label for green investment funds; making sustainability part of the mandates of the European Supervisory Authorities (ESAs); a European standard for green bonds. An EU strategy on sustainable finance is a priority action of the Capital Markets Union (CMU) Action Plan. This HLEG was established in December 2016, comprising 20 senior experts from different sectors of society, and it was chaired by Christian Thimann. A preliminary report was published in July 2017. |
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| Source Link |
https://ec.europa.eu/info/publications/180131-sustainable-finance-report
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| Subject Categories | Economic and Financial Affairs, Environment |
| Subject Tags | Capital Markets Union [CMU], Climate Change, Sustainable Development |
| Keywords | Circular Economy |
| International Organisations | European Union [EU] |
