News
High-Level Expert Group on Sustainable Finance delivers earlier recommendations.
- 17/07/2017
Last Thursday, The High-Level Expert Group on Sustainable Finance, established by the Commission, has published its first report setting out concrete steps to create a financial system that supports sustainable investments.
The High-Level Group was established in December 2016 as part of the Commission's commitment to the Paris Climate Agreement. It is made of 20 senior experts from civil society, the finance sector, academia and observers from European and international institutions.
The areas on which the interim report proposes quick action include a classification system for sustainable assets, a European standard and label for green bonds, fiduciary duty that encompasses sustainability, better disclosure from financial institutions and companies on how sustainability is factored into decision-making and a 'sustainability test' for relevant EU financial legislation. The Commission will now start exploring these early recommendations as of now.
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