ESMA Chair on Sustainable Finance

On Feb. 12, ESMA published chairĀ speech on sustainable finance.

  • Steven Maijoor's sustainable finance speech at European financial forum published.
  • Follows ESMA Feb. 2020 published its sustainable financing strategy, see #71528.
  • Overview
  • ESMA's chair delivered keynote address on sustainable finance issues in Dublin.
  • He focused on, inter alia, regulatory authorities role in tackling climate change, need for reliable ESG standards, supervision, need for measures in whole investment chain.
  • Financial sector has pivotal role as key transmission channel of needed transformation towards more sustainable economic system, high priority for securities regulators.
  • Key pillars supporting shift towards more sustainable financial system: measurement, verification, disclosure of ESG factors, thus, public authorities must step in, set out robust ESG standards, supervise relevant actors/products to prevent greenwashing.
  • ESMA is committed to actively contribute to the transition to sustainability by supporting measures across whole investment chain, engaging with all relevant stakeholders, colleagues within international community of securities regulators.

Regulators EU ESMA
Entity Types B/D; Bank; Corp; IA; Inv Co
Reference Sp, ESMA32-67-642, PR, 2/12/2020; ESG
Functions Compliance; C-Suite; Financial; Legal; Operations; Reporting; Risk; Treasury
Countries European Union
Products Banking; Commodities; Corporate; Derivatives; Fixed Income; Fund Mgt; Securities; Structured Products
Regions EMEA
Rule Type Guidance
Rule Date 2/12/2020
Effective Date 2/12/2020
Rule Id 71807
Linked to Rule :71528
Reg. Last Update 2/12/2020
Report Section EU

Last substantive update on 02/13/2020