Author (Corporate) | European Commission: DG Financial Stability Financial Services and Capital Markets Union |
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Series Details | COM (2021) 391 |
Publication Date | 06/07/2021 |
Content Type | Blog & Commentary, News, Policy-making |
Summary: Legislative initiative tabled by the European Commission on 6 July 2021, establishing a voluntary standard for bonds aimed at financing sustainable investment - the so-called European Green Bond Standard (EUGBS). This is a text with EEA relevance. Further information: The proposal lays the foundation for a common framework of rules regarding the use of the designation European Green Bond for bonds that pursue environmentally sustainable objectives within the meaning of Regulation (EU) 2020/852. It also sets up a system for registering and supervising companies that act as external reviewers for green bonds aligned with this framework. The designation shall be available to all issuers that meet the requirements of this draft law. The proposed Regulation aims to better exploit the potential of the Capital Markets Union (CMU) to contribute to meeting the European Union's climate and environmental goals (as set by the European Green Deal). It is aimed at facilitating further development of the market for high-quality green bonds, while minimising disruption to existing green bond markets and reducing the risk of greenwashing. This draft law was tabled by the European Commission on 6 July 2021 alongside a Communication setting out a new strategy for financing transition to sustainable economy. The Council of the European Union adopted its general approach on 13 April 2022. |
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Source Link | https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:391:FIN |
Related Links |
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Subject Categories | Economic and Financial Affairs, Environment |
Subject Tags | Financial Services, Sustainable Development |
International Organisations | European Union [EU] |
