EBF SUSTAINABLE FINANCE ROUNDUP ARTICLE
ESAP, or the value of giving European solutions to European problems
By Jacopo Borgognone, EBF Policy Adviser
BRUSSELS, 20 June 2022
In the context of the 2020 Capital Markets Union Action Plan, the European Commission put forward the proposal to establish a European Single Access Point (ESAP) for financial and sustainability-related information reported under EU law. Arguably, this is not just about innovation, but about providing a European solution to an exquisitely European problem: fragmentation along invisible borders. As statistics from the European Commission and IMF also show, European companies and financial entities under EU law report a great deal of information. However, information travels very hardly across borders, and even more hardly to the end user. This in turn reinforces the home-bias of European investors, reducing the share of market-based financing in the EU and thus the specific weight of European capital markets as a whole. A successful ESAP can reverse the trend but -the paper explains- it is key that ESAP does not fall victim to its own ambition. To do so, it is necessary that it ‘starts small, but thinks big’. Here is how.
For more information:
Jacopo Borgognone, Financial Markets – Financing Sustainable Growth firstname.lastname@example.org
European Banking Federation
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
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