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  • Interim report of the EU High-Level Expert Group on Sustainable Finance

    23 August 2017

    PLEASE NOTE: These are member only events.

    Roundtable: Wednesday 23 August, 9.15 - 12pm

    The roundtable is kindly hosted by Janus Henderson at 201 Bishopsgate, London EC2M 3AE (map)

    Register for the Rountable here

     

    What is happening
    The High-Level Expert Group on Sustainable Finance (HLEG) are tasked with submitting a report to the EU Commission setting out the scale of challenges and opportunities that sustainable finance presents. They will also recommend a programme of reforms to the EU financial policy framework that includes clear prioritisation and sequencing.

    HLEG have now published their interim report and are consulting on the recommendations and comments it makes.  

    What we are doing
    UKSIF will respond to the HLEG consultation informed by your views canvassed as follows:  

    23 August Roundtable event (will include dial-in). This event will focus on the key issues members have identified and invite contributions from the floor/via phone. The intention is to capture views to express to the EU. Please note only one member of staff from each organisation can register for this event.

    First week of September (TBC) We hope to host some of the non-UK based members of the HLEG, and perhaps some Commission personnel for a Q&A.

    Why this matters
    The HLEG will make recommendations to the EU Commission who will probably implement them through directives and regulation. We welcome this support and stimulus of sustainable finance. The interim report recommendations and policy comments include:

    • A European standard and label for green bonds and other sustainable assets, as well as labels for sustainable funds
    • An EU classification of financial products that captures all acceptable definitions of sustainable “assets”
    • Investment benchmarks: As a starting point, supervisors and asset owners could encourage the use of multiple reference points by asset managers as a way to better align with sustainability
    • Banking: there may be opportunities to adapt prudential rules to better reflect sustainability risks
    • Insurance: Adverse ESG implications of Solvency II should be examined

    Brexit or not, developments in these areas will inevitably shape UK sustainable investment and finance. UKSIF wants to make sure all members are briefed and can influence the UKSIF response to the report consultation.

    Spaces are limited so please register as soon as possible.

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