Sustainable Finance: Commission hosts stakeholder dialogue to discuss latest expert reports

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The European Commission is today hosting an event to exchange views on the reports of the Technical expert group on sustainable finance (TEG) and present the new Commission guidelines on climate-related reporting published last week. This event builds on the Commission’s ongoing efforts to involve a wide range of stakeholders as it implements its Action Plan on Financing Sustainable Growth. Commission Vice-President Valdis Dombrovskis, responsible for Financial Stability, Financial Services and Capital Markets Union, said: “One of the main objectives of our Sustainable Finance policy is to harness the power of private capital to achieve a climate-neutral economy by 2050. The reports published by the technical expert group on sustainable finance and new Commission guidelines for climate-related reporting provide a thought-provoking analysis on how to bring about a rapid green transition in the financial sector.” On 18 June, the TEG delivered three major reports on the EU Taxonomy, which presents the most comprehensive classification system for sustainable activities to date; an EU Green Bond Standard, which recommends clear and comparable criteria for issuing green bonds; and an interim report that presents recommendations on Climate benchmarks and benchmarks’ ESG disclosures. On the same day, the Commission also published non-binding new guidelines to help companies disclose relevant climate-related information in a more consistent and more comparable manner. Today’s event in Brussels will give all participants the chance to discuss the substance of these publications and anticipate possible next steps in terms of the EU’s progress on sustainable finance.

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