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Sustainability risk

Context

The goal for the EU Commission is “to reconcile the economy with our planet, to reconcile the way we produce and the way we consume with our planet, and to make it work for our people”. The EU leaders recognise notably that the transition to climate neutrality would bring significant opportunities, such as potential for economic growth, business and technological development.

It is worth therefore discussing the conditions to foster investment in sustainable projects. Indeed, while according to the EIB 2019 economic investment report, the investment activity in the European Union had recovered from the recession following the financial crisis, the report stresses that the investment required notably to the transition to a net zero-carbon economy is not yet on track.

Indeed, an effective and swift-enough transition requires in particular an un precedented effort from citizens, consumers, SMEs, etc. and in particular that they foster sustainable investments. However, progress in this area result from a complex combination of forward-looking targets, transparency tools, governance arrangements, financing/risk reduction facilities and efficient incentivisation frameworks.

Such a complexity is further compounded by a context of ever higher indebted EU economies focused on growth relaunch in the Covid19 pandemic context. This requires turning the Green Deal into an indispensable tool to set the policies that will enable reducing risks in the EU, be they climate or biodiversity related, and bring about additional growth opportunities in the EU.

Eurofi documents

Extracted from the main Eurofi publications (Regulatory Updates, Views Magazines and Conference Summaries)

Panel discussion summaries

Avoiding greenwashing in the financial sector - Stockholm High Level Seminar - April 2023

Climate change insurance needs - Stockholm High Level Seminar - April 2023

ESG issues in the asset management area - Stockholm High Level Seminar - April 2023

Fostering investment in the green transition - Stockholm High Level Seminar - April 2023

Sustainability risk in the banking sector - Stockholm High Level Seminar - April 2023

Sustainability risks in the insurance sector - Stockholm High Level Seminar - April 2023

Transition of financial activities towards net zero - Stockholm High Level Seminar - April 2023

Prospects and challenges faced by the green transition - Prague Financial Forum - September 2022

Transition pathways: definition and adoption challenges - Prague Financial Forum - September 2022

Climate and sustainability risks in the banking sector - Ljubljana Financial Forum - September 2021

Climate and sustainability risks in the insurance sector - Ljubljana Financial Forum - September 2021

Divergence of ESG approaches at the global level: what impacts? - Ljubljana Financial Forum - September 2021

Renewed EU sustainable finance strategy: is it sufficient? - Ljubljana Financial Forum - September 2021

Prospects of global and EU ESG standards converging - Lisbon Virtual Seminar - April 2021

Climate risk implications for the EU financial sector - Lisbon Virtual Seminar - April 2021

Have the prospects of global and EU ESG policies changed with the COVID crisis? - Berlin Financial Forum - September 2020

Will tackling climate risk still be a major priority post COVID 19 crisis? - Berlin Financial Forum - September 2020

Fostering investment in sustainable projects - Helsinki Financial Forum - September 2019

Policies for addressing climate change risks - Helsinki Financial Forum - September 2019

Eurofi Views Magazine chapters

Behind every challenge lies an opportunity: how the financial sector can support EU competitiveness in difficult times - April 2023

Mairead McGuinness - European Commission

Fostering investment in the green transition - April 2023

Mindaugas Liutvinskas - Vice Minister of Finance of the Republic of Lithuania | Luděk Niedermayer - European Parliament | Harald Waiglein - Federal Ministry of Finance, Austria | Niall Bohan - European Commission | Cornelia Andersson - London Stock Exchange Group (LSEG) | Pier Carlo Padoan - Chairman - UniCredit S.p.A. | Debora Revoltella - European Investment Bank (EIB) | Philippe Blanchot - Caisse des Dépôts Group

Overcoming the obstacles to financing europe’s green transition - April 2023

Jean Lemierre - BNP Paribas

Sustainability risk in the banking sector - April 2023

Mercedes Olano - Banco de España | Kerstin Afjochnick - European Central Bank (ECB) | Martin Persson - Nordea Bank Abp | Kay Swinburne - KPMG LLP | Takanori Sazaki - MUFG Bank, Ltd. | Hannes Mösenbacher - Raiffeisen Bank International AG

Sustainability risks in the insurance sector - April 2023

Alberton Corinti - Italian Insurance Supervisory Authority (IVASS) | Asa Larson - Swedish Financial Supervisory Authority (Finansinspektionen) | Fausto Parente - European Insurance and Occupational Pensions Authority (EIOPA) | Hidehiko Sogano - Dai-ichi Life Holdings, Inc. | Mireille Aubry - Covéa

Clarifying the sustainable investment universe - September 2022

Carlo Comporti - Commissione Nazionale per le Società e la Borsa | Paul Tang - European Parliament | Birgit Puck - Austrian Financial Market Authority | Benoît de Juvigny - Autorité des Marchés Financiers | Natalie Westerbarkey - Fidelity International | Christina Papaconstantinou - Bank of Greece | Jessica Ground - Capital Group

Prospects and challenges faced by the green transition - September 2022

Sylvie Goulard - Banque de France | Elizabeth Mccaul - European Central Bank | Mario Nava - European Commission | Arne Staal - London Stock Exchange Group | Shinsuke Toda - Mizuho Financial Group, Inc. / Mizuho Bank, Ltd.

Transition pathways: definition and adoption challenges - September 2022

Sylvie Goulard - Banque de France | Sacha Sadan - Financial Conduct Authority | Antje Stobbe - Allianz Global Investors | Melissa Ocampo - SMBC Bank International plc | Sinthuja Yogarajah - Federated Hermes Limited | Angus Graham - UBS