Renewed Sustainable Finance Strategy: EBF response
BRUSSELS, 15 July 2020 – The European Banking Federation has responded to the European Commission consultation on the Renewed Sustainable Finance Strategy.
Key focus:
- Focus on usability and enforceability of the currently developed tools and requirements; focus on a limited set of KPIs
- Ensure clarity and stability of the political and regulatory environment
- Reduce complexity and ensure consistency across EU legislation, regulation and standards
- Enhance availability, reliability and comparability of material ESG data by means of European reporting standard and central ESG Data Register
- Develop a uniform definition of ESG risk and criteria for understanding the impact of ESG risks on corporations
- Provide corporates and financial institution with analysis methods and tools which can help to assess the impact of ESG risks on lending
- Address Transition Finance, to allow all companies committed to transition to having access to sustainable finance
- Favour innovation in sustainable finance to identify new instrument which can better support the transition toward sustainable business models (es. ESG-Linked Loans; SDG KPI-linked bonds; Impact Loan; Blended Finance products; Green Project Finance etc.)
- Develop minimum social criteria and ensure just transition
- Introduce incentives and enhance the financial viability of sustainable activities (e.g. risk-sharing mechanism)
- Promote a global approach and level playing field
For more information:
Denisa Avermaete, Sustainable Finance Senior Adviser, +32 2 508 37 66
About the EBF:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF 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. Website: www.ebf.eu Twitter: @EBFeu
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