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

Renewed Sustainable Finance Strategy: EBF response

EBF members

Renewed Sustainable Finance Strategy: EBF response