Banks as key players in financing the transition to a sustainable economy support the Commission proposal that aims to ensure that financial market integrate ESG considerations into the investment and advisory process in a consistent manner and provide investors with related information.
In our comments to the rapporteur Paul Tang, we challenge the extension of the scope of the Regulation to lending activities. The scope should, as originally proposed, remain limited to the management of environmentally sustainable investments or provision of related advisory services to clients. Banks will be in the scope of the Regulation in their capacity as investments’ managers or providers of advisory services. Provision of credit should be left out from the scope of this Regulation and discussed separately.
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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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