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.